STAAR Surgical (NASDAQ:STAA) Hits New 52-Week Low – Here’s Why

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

Analysts Set New Price Targets

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

STAAR Surgical Price Performance

The company’s 50-day simple moving average is $27.45 and its two-hundred day simple moving average is $33.84. The firm has a market capitalization of $1.18 billion, a P/E ratio of 54.39 and a beta of 0.59.

Insider Buying and Selling 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 stock was acquired at an average cost of $24.33 per share, for a total transaction of $559,590.00. Following the completion of the transaction, the insider now directly owns 10,848,631 shares in the company, valued at $263,947,192.23. This trade represents a 0.21 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in STAAR Surgical by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock worth $43,641,000 after buying an additional 31,212 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of STAAR Surgical by 214.7% during the second quarter. Mutual of America Capital Management LLC now owns 26,459 shares of the medical instruments supplier’s stock worth $1,260,000 after purchasing an additional 18,051 shares in the last quarter. HighTower Advisors LLC bought a new stake in STAAR Surgical during the 3rd quarter valued at approximately $336,000. ClariVest Asset Management LLC purchased a new position in STAAR Surgical in the 2nd quarter worth approximately $1,223,000. Finally, Algert Global LLC boosted its stake in STAAR Surgical by 13.5% in the 2nd quarter. Algert Global LLC now owns 116,655 shares of the medical instruments supplier’s stock worth $5,554,000 after purchasing an additional 13,901 shares during the period. Hedge funds and other 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.