STAAR Surgical (NASDAQ:STAA) Rating Increased to Hold at Piper Sandler

STAAR Surgical (NASDAQ:STAA - Get Free Report) was upgraded by stock analysts at Piper Sandler to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research firms have also issued reports on STAA. Canaccord Genuity Group reissued a "hold" rating and issued a $20.00 target price on shares of STAAR Surgical in a report on Tuesday, May 27th. Needham & Company LLC reissued a "hold" rating on shares of STAAR Surgical in a research note on Wednesday, May 21st. Wells Fargo & Company started coverage on shares of STAAR Surgical in a research note on Monday, April 21st. They set an "equal weight" rating and a $17.00 target price on the stock. Finally, Stephens reaffirmed an "equal weight" rating and issued a $17.00 target price on shares of STAAR Surgical in a report on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $24.63.

STAAR Surgical Stock Up 3.0%

STAA traded up $0.50 during trading on Wednesday, hitting $17.18. The company's stock had a trading volume of 1,137,132 shares, compared to its average volume of 856,368. The business's 50 day simple moving average is $17.91 and its 200-day simple moving average is $19.60. The firm has a market cap of $850.86 million, a PE ratio of -11.93 and a beta of 0.63. STAAR Surgical has a one year low of $13.50 and a one year high of $49.86.

STAAR Surgical declared that its board has approved a share repurchase plan on Friday, May 16th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the medical instruments supplier to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 22,189 shares of the business's stock in a transaction on Monday, March 31st. The shares were acquired at an average price of $17.46 per share, for a total transaction of $387,419.94. Following the completion of the transaction, the insider now directly owns 12,455,264 shares of the company's stock, valued at approximately $217,468,909.44. The trade was a 0.18% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 701,474 shares of company stock worth $11,200,611 over the last 90 days. 1.00% of the stock is owned by insiders.

Institutional Trading of STAAR Surgical

Several institutional investors have recently added to or reduced their stakes in the company. Pinnacle Investment Management Ltd bought a new stake in shares of STAAR Surgical during the first quarter worth $1,155,000. Strs Ohio purchased a new position in STAAR Surgical in the 1st quarter worth about $190,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of STAAR Surgical by 11.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,347 shares of the medical instruments supplier's stock worth $2,175,000 after acquiring an additional 12,841 shares during the period. Caxton Associates LLP bought a new stake in shares of STAAR Surgical during the first quarter valued at approximately $1,051,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of STAAR Surgical by 33.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier's stock worth $9,606,000 after buying an additional 136,390 shares during the period. Institutional investors own 96.70% of the company's stock.

About STAAR Surgical

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.