Canaccord Genuity Group Boosts STAAR Surgical (NASDAQ:STAA) Price Target to $20.00

STAAR Surgical (NASDAQ:STAA) had its target price raised by Canaccord Genuity Group from $17.00 to $20.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 3.31% from the stock’s current price.

Several other brokerages have also recently weighed in on STAA. Wells Fargo & Company initiated coverage on STAAR Surgical in a research report on Monday, April 21st. They set an “equal weight” rating and a $17.00 price target for the company. BTIG Research lowered shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. William Blair lowered shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Finally, Mizuho lowered STAAR Surgical from an “outperform” rating to a “neutral” rating and cut their price target for the company from $45.00 to $17.00 in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, STAAR Surgical currently has a consensus rating of “Hold” and a consensus price target of $24.63.

STAAR Surgical Stock Performance

Shares of STAA opened at $19.36 on Thursday. The business’s 50-day moving average is $17.57 and its two-hundred day moving average is $21.97. The company has a market capitalization of $958.82 million, a P/E ratio of -47.22 and a beta of 0.65. STAAR Surgical has a fifty-two week low of $13.50 and a fifty-two week high of $49.86.

Insiders Place Their Bets

In other news, major shareholder Broadwood Partners, L.P. acquired 497,631 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were bought at an average price of $15.91 per share, for a total transaction of $7,917,309.21. Following the acquisition, the insider now owns 13,194,210 shares of the company’s stock, valued at approximately $209,919,881.10. This trade represents a 3.92 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders bought 1,742,581 shares of company stock worth $28,407,543. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently modified their holdings of the business. Linden Thomas Advisory Services LLC lifted its stake in STAAR Surgical by 3.0% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 20,978 shares of the medical instruments supplier’s stock worth $370,000 after purchasing an additional 603 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of STAAR Surgical by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,123 shares of the medical instruments supplier’s stock valued at $683,000 after purchasing an additional 1,044 shares during the last quarter. MetLife Investment Management LLC lifted its position in STAAR Surgical by 6.3% during the fourth quarter. MetLife Investment Management LLC now owns 30,396 shares of the medical instruments supplier’s stock worth $738,000 after buying an additional 1,796 shares in the last quarter. US Bancorp DE boosted its stake in STAAR Surgical by 1,693.0% during the first quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 1,930 shares during the last quarter. Finally, Bridgefront Capital LLC grew its holdings in STAAR Surgical by 27.2% in the 4th quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier’s stock valued at $262,000 after buying an additional 2,306 shares in the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

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.