STAAR Surgical (NASDAQ:STAA) Reaches New 52-Week Low – Should You Sell?

STAAR Surgical (NASDAQ:STAA)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $26.63 and last traded at $26.66, with a volume of 384914 shares. The stock had previously closed at $27.30.

Wall Street Analysts Forecast Growth

STAA has been the topic of a number of recent analyst reports. 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 target on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Canaccord Genuity Group lowered their price objective on STAAR Surgical from $41.00 to $31.00 and set a “hold” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $43.33.

STAAR Surgical Stock Performance

The company has a 50-day moving average of $31.38 and a 200-day moving average of $37.48. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 62.03 and a beta of 0.61.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI acquired a new stake in shares of STAAR Surgical in the third quarter worth $37,000. Quarry LP purchased a new stake in shares of STAAR Surgical during the third quarter worth about $50,000. Covestor Ltd boosted its holdings in STAAR Surgical by 38.9% in the first quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock valued at $103,000 after purchasing an additional 754 shares during the last quarter. Quest Partners LLC acquired a new stake in STAAR Surgical during the 3rd quarter valued at approximately $128,000. Finally, Canada Pension Plan Investment Board purchased a new stake in STAAR Surgical during the 2nd quarter worth approximately $129,000. 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.