STAAR Surgical (NASDAQ:STAA) Sets New 12-Month Low – Here’s Why

STAAR Surgical (NASDAQ:STAA)’s stock price reached a new 52-week low on Friday . The company traded as low as $24.71 and last traded at $24.83, with a volume of 49325 shares traded. The stock had previously closed at $25.39.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on STAA shares. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st. Stifel Nicolaus cut their price objective on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Canaccord Genuity Group lowered their target price on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Stephens raised shares of STAAR Surgical to a “hold” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, STAAR Surgical has a consensus rating of “Hold” and an average target price of $42.83.

STAAR Surgical Stock Down 4.1 %

The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 57.70 and a beta of 0.59. The business has a 50-day moving average of $29.11 and a 200-day moving average of $35.12.

Institutional Trading of STAAR Surgical

A number of institutional investors have recently added to or reduced their stakes in STAA. Granite Investment Partners LLC acquired a new stake in shares of STAAR Surgical in the 2nd quarter valued at $17,237,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of STAAR Surgical by 50.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 592,621 shares of the medical instruments supplier’s stock worth $28,215,000 after buying an additional 197,717 shares during the last quarter. American Capital Management Inc. lifted its holdings in STAAR Surgical by 42.9% in the 3rd quarter. American Capital Management Inc. now owns 512,813 shares of the medical instruments supplier’s stock worth $19,051,000 after purchasing an additional 154,037 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in STAAR Surgical by 25.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 459,655 shares of the medical instruments supplier’s stock worth $21,884,000 after purchasing an additional 94,422 shares during the last quarter. Finally, Roubaix Capital LLC acquired a new stake in STAAR Surgical in the 2nd quarter worth approximately $4,293,000. 96.70% 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 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.