STAAR Surgical (NASDAQ:STAA) Hits New 1-Year Low – What’s Next?

STAAR Surgical (NASDAQ:STAA)’s stock price hit a new 52-week low on Monday . The company traded as low as $23.55 and last traded at $23.75, with a volume of 25263 shares trading hands. The stock had previously closed at $24.21.

Analyst Ratings Changes

A number of brokerages recently issued reports on STAA. Canaccord Genuity Group decreased their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, December 9th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st. Finally, Stephens upgraded STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.83.

STAAR Surgical Price Performance

The business’s 50-day moving average is $27.32 and its two-hundred day moving average is $33.72. The firm has a market cap of $1.20 billion, a P/E ratio of 55.20 and a beta of 0.59.

Insider Activity at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of $24.33 per share, with a total value of $559,590.00. Following the completion of the transaction, the insider now owns 10,848,631 shares of the company’s stock, valued at $263,947,192.23. The trade was a 0.21 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Arcadia Investment Management Corp MI acquired a new position in STAAR Surgical in the 3rd quarter valued at about $37,000. Quarry LP bought a new stake in shares of STAAR Surgical during the third quarter worth approximately $50,000. Quest Partners LLC acquired a new position in shares of STAAR Surgical in the third quarter valued at approximately $128,000. Canada Pension Plan Investment Board bought a new position in shares of STAAR Surgical during the second quarter worth approximately $129,000. Finally, Van ECK Associates Corp lifted its holdings in STAAR Surgical by 12.7% during the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after purchasing an additional 393 shares during the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

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.