STAAR Surgical (NASDAQ:STAA) Trading Down 3% – Here’s Why

STAAR Surgical (NASDAQ:STAA) shares were down 3% during mid-day trading on Thursday . The stock traded as low as $24.22 and last traded at $24.23. Approximately 34,277 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 699,621 shares. The stock had previously closed at $24.97.

Analysts Set New Price Targets

Several analysts have recently commented on STAA shares. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st. Stephens upgraded shares of STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Finally, Canaccord Genuity Group cut their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.83.

STAAR Surgical Stock Performance

The company has a market cap of $1.20 billion, a price-to-earnings ratio of 55.50 and a beta of 0.59. The stock’s fifty day moving average is $27.71 and its two-hundred day moving average is $34.09.

Insider Activity at STAAR Surgical

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

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors have recently modified their holdings of the business. Arcadia Investment Management Corp MI bought a new position in STAAR Surgical during the third quarter valued at $37,000. Quarry LP purchased a new stake in STAAR Surgical in the 3rd quarter worth about $50,000. Canada Pension Plan Investment Board purchased a new stake in STAAR Surgical in the 2nd quarter worth about $129,000. Larson Financial Group LLC bought a new stake in STAAR Surgical in the 2nd quarter valued at about $130,000. Finally, Quest Partners LLC bought a new position in STAAR Surgical during the third quarter worth about $128,000. 96.70% of the stock is owned by institutional investors.

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.