Mizuho Issues Positive Forecast for STAAR Surgical (NASDAQ:STAA) Stock Price

STAAR Surgical (NASDAQ:STAA - Free Report) had its price target lifted by Mizuho from $17.00 to $18.00 in a report published on Wednesday,Benzinga reports. Mizuho currently has a neutral rating on the medical instruments supplier's stock.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company began coverage on shares of STAAR Surgical in a research report on Monday, April 21st. They issued an "equal weight" rating and a $17.00 target price for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of STAAR Surgical in a research report on Wednesday, May 21st. Piper Sandler raised shares of STAAR Surgical to a "hold" rating in a research report on Wednesday, June 18th. Stephens reaffirmed an "equal weight" rating and issued a $17.00 target price on shares of STAAR Surgical in a research report on Tuesday, March 18th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and issued a $20.00 target price on shares of STAAR Surgical in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $18.00.

STAAR Surgical Price Performance

Shares of STAA traded up $0.09 on Wednesday, hitting $17.36. 848,679 shares of the stock traded hands, compared to its average volume of 848,190. The business has a 50 day simple moving average of $17.61 and a 200 day simple moving average of $18.67. STAAR Surgical has a one year low of $13.50 and a one year high of $43.52.

STAAR Surgical announced that its Board of Directors has initiated a share repurchase plan on Friday, May 16th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the medical instruments supplier to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On STAAR Surgical

A number of hedge funds have recently modified their holdings of STAA. US Bancorp DE lifted its position in shares of STAAR Surgical by 1,693.0% in the first quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier's stock valued at $36,000 after acquiring an additional 1,930 shares in the last quarter. Brooklyn Investment Group raised its stake in STAAR Surgical by 1,564.0% during the 1st quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier's stock valued at $47,000 after purchasing an additional 2,518 shares during the period. KLP Kapitalforvaltning AS bought a new stake in STAAR Surgical during the 4th quarter valued at approximately $180,000. EntryPoint Capital LLC bought a new stake in STAAR Surgical during the 1st quarter valued at approximately $189,000. Finally, Bridgefront Capital LLC raised its stake in STAAR Surgical by 27.2% during the 4th quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier's stock valued at $262,000 after purchasing an additional 2,306 shares during the period. Institutional investors own 96.70% of the company's stock.

STAAR Surgical Company Profile

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and companion delivery systems to deliver the lenses into the eye. The company provides implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia.