A number of other equities research analysts have also weighed in on STAA. Zacks Investment Research lowered STAAR Surgical from a buy rating to a hold rating in a research report on Saturday, March 2nd. ValuEngine lowered STAAR Surgical from a buy rating to a hold rating in a research report on Thursday, April 18th. Finally, Canaccord Genuity restated a buy rating and set a $38.00 target price (down previously from $43.00) on shares of STAAR Surgical in a research report on Monday, May 6th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $40.33.
Shares of NASDAQ STAA opened at $26.50 on Tuesday. The company has a quick ratio of 4.83, a current ratio of 5.41 and a debt-to-equity ratio of 0.04. STAAR Surgical has a 12 month low of $21.70 and a 12 month high of $54.00. The company has a market cap of $1.17 billion, a PE ratio of 94.64 and a beta of 2.23.
In other news, major shareholder Broadwood Partners, L.P. purchased 100,000 shares of the stock in a transaction on Friday, May 3rd. The shares were acquired at an average price of $22.23 per share, for a total transaction of $2,223,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Deborah J. Andrews sold 1,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $34.35, for a total value of $34,350.00. Following the sale, the chief financial officer now owns 36,268 shares in the company, valued at approximately $1,245,805.80. The disclosure for this sale can be found here. Insiders sold 17,730 shares of company stock valued at $655,538 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.
A number of institutional investors have recently bought and sold shares of STAA. BlackRock Inc. lifted its holdings in shares of STAAR Surgical by 1.4% during the fourth quarter. BlackRock Inc. now owns 3,111,085 shares of the medical instruments supplier’s stock valued at $99,276,000 after purchasing an additional 42,395 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of STAAR Surgical by 4.0% during the 1st quarter. Baillie Gifford & Co. now owns 1,774,201 shares of the medical instruments supplier’s stock valued at $60,659,000 after acquiring an additional 68,680 shares during the period. Northern Trust Corp grew its position in shares of STAAR Surgical by 0.5% during the 1st quarter. Northern Trust Corp now owns 533,516 shares of the medical instruments supplier’s stock valued at $18,241,000 after acquiring an additional 2,739 shares during the period. Defender Capital LLC. grew its position in shares of STAAR Surgical by 10.2% during the 1st quarter. Defender Capital LLC. now owns 524,686 shares of the medical instruments supplier’s stock valued at $18,547,000 after acquiring an additional 48,400 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in STAAR Surgical by 89.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 455,189 shares of the medical instruments supplier’s stock worth $15,563,000 after buying an additional 214,497 shares during the period. 89.59% of the stock is currently owned by institutional investors and hedge funds.
About STAAR Surgical
STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and delivery systems to deliver the lenses into the eye. The company provides Visian implantable collamer lenses (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.
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