STAAR Surgical (NASDAQ:STAA) Reaches New 12-Month Low – Here’s What Happened

STAAR Surgical (NASDAQ:STAA) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $23.10 and last traded at $23.10, with a volume of 412662 shares. The stock had previously closed at $24.54.

Analyst Ratings Changes

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

STAAR Surgical Stock Down 4.9 %

The company has a market capitalization of $1.15 billion, a P/E ratio of 53.02 and a beta of 0.63. The company has a 50 day simple moving average of $26.83 and a two-hundred day simple moving average of $33.25.

Insider Buying and Selling

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 23,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $24.33 per share, for a total transaction of $559,590.00. Following the acquisition, the insider now directly owns 10,848,631 shares in the company, valued at approximately $263,947,192.23. The trade was a 0.21 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On STAAR Surgical

Several large investors have recently modified their holdings of the business. Arcadia Investment Management Corp MI bought a new position in STAAR Surgical in the third quarter worth approximately $37,000. Quarry LP purchased a new position in shares of STAAR Surgical in the 3rd quarter valued at $50,000. Canada Pension Plan Investment Board purchased a new stake in shares of STAAR Surgical during the 2nd quarter worth $129,000. Larson Financial Group LLC bought a new stake in STAAR Surgical during the second quarter valued at about $130,000. Finally, Quest Partners LLC purchased a new position in STAAR Surgical in the third quarter valued at about $128,000. 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.