STAAR Surgical (NASDAQ:STAA) Shares Down 6.3% – Time to Sell?

STAAR Surgical (NASDAQ:STAA)’s share price dropped 6.3% during trading on Tuesday . The company traded as low as $25.96 and last traded at $25.96. Approximately 62,466 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 704,592 shares. The stock had previously closed at $27.72.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stifel Nicolaus decreased their price target on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Canaccord Genuity Group reduced their target price on shares of STAAR Surgical from $41.00 to $31.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $43.33.

STAAR Surgical Price Performance

The stock’s fifty day moving average price is $30.53 and its 200 day moving average price is $35.95. The stock has a market capitalization of $1.30 billion, a P/E ratio of 60.93 and a beta of 0.59.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of 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 in the last quarter. Sei Investments Co. raised its holdings in shares of STAAR Surgical by 2.7% in the 2nd quarter. Sei Investments Co. now owns 15,087 shares of the medical instruments supplier’s stock valued at $718,000 after purchasing an additional 394 shares in the last quarter. Creative Planning lifted its position in shares of STAAR Surgical by 8.0% in the 3rd quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock worth $205,000 after purchasing an additional 408 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of STAAR Surgical by 3.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,343 shares of the medical instruments supplier’s stock valued at $540,000 after purchasing an additional 418 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its stake in STAAR Surgical by 2.3% in the second quarter. Linden Thomas Advisory Services LLC now owns 20,721 shares of the medical instruments supplier’s stock worth $987,000 after buying an additional 469 shares in the last quarter. Institutional investors own 96.70% of the company’s stock.

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.