STAAR Surgical (NASDAQ:STAA) Sets New 52-Week Low – Here’s What Happened

STAAR Surgical (NASDAQ:STAA) shares hit 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.

Analysts Set New Price Targets

A number of brokerages recently issued reports on STAA. Stephens raised shares of STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Canaccord Genuity Group cut their price target 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $42.83.

STAAR Surgical Price Performance

The stock has a 50 day moving average price of $26.43 and a two-hundred day moving average price of $32.94. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 52.55 and a beta of 0.63.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average price 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 $263,947,192.23. This trade represents a 0.21 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI acquired a new position in STAAR Surgical during the 3rd quarter worth approximately $37,000. Quarry LP acquired a new position in shares of STAAR Surgical during the third quarter worth $50,000. Canada Pension Plan Investment Board purchased a new position in STAAR Surgical in the second quarter valued at $129,000. Quest Partners LLC acquired a new stake in STAAR Surgical in the third quarter valued at $128,000. 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 buying an additional 393 shares during the last quarter. 96.70% of the stock is 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.