STAAR Surgical (NASDAQ:STAA) Hits New 12-Month Low – Should You Sell?

STAAR Surgical (NASDAQ:STAA)’s stock price hit a new 52-week low during trading on Monday . The stock 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.

Analyst Ratings Changes

Several research firms have weighed in on STAA. Stephens upgraded STAAR Surgical to a “hold” rating in a research note on Monday, December 2nd. Canaccord Genuity Group reduced their price objective on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, December 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Thursday, October 31st. 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 MarketBeat, STAAR Surgical has a consensus rating of “Hold” and a consensus price target of $42.83.

STAAR Surgical Trading Up 0.9 %

The stock has a market cap of $1.20 billion, a P/E ratio of 55.20 and a beta of 0.59. The business has a 50-day simple moving average of $27.32 and a 200 day simple moving average of $33.72.

Insider Buying and Selling

In related news, major shareholder Broadwood Partners, L.P. purchased 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, for a total transaction of $559,590.00. Following the completion of the acquisition, the insider now owns 10,848,631 shares of the company’s stock, valued at $263,947,192.23. This trade represents a 0.21 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Institutional Trading of STAAR Surgical

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in STAAR Surgical by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 405,222 shares of the medical instruments supplier’s stock worth $19,293,000 after acquiring an additional 5,712 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of STAAR Surgical by 7.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,291 shares of the medical instruments supplier’s stock worth $442,000 after purchasing an additional 652 shares in the last quarter. Versor Investments LP acquired a new stake in STAAR Surgical in the 2nd quarter valued at $393,000. Rhumbline Advisers increased its position in shares of STAAR Surgical by 0.7% during the second quarter. Rhumbline Advisers now owns 146,775 shares of the medical instruments supplier’s stock worth $6,988,000 after acquiring an additional 1,039 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new stake in shares of STAAR Surgical in the 2nd quarter worth about $130,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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.