STAAR Surgical (NASDAQ:STAA) Hits New 1-Year Low – Time to Sell?

Shares of STAAR Surgical (NASDAQ:STAA) reached a new 52-week low 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

Several research analysts have recently issued reports on STAA shares. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Tuesday. Canaccord Genuity Group decreased their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Finally, Stephens raised STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, STAAR Surgical presently has a consensus rating of “Hold” and a consensus price target of $42.83.

STAAR Surgical Stock Performance

The company has a market capitalization of $1.14 billion, a PE ratio of 52.55 and a beta of 0.63. The company’s 50-day simple moving average is $26.43 and its 200-day simple moving average is $32.94.

Insider Transactions at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 53,500 shares of the company’s stock in a transaction on Monday, December 16th. The shares were bought at an average cost of $24.24 per share, with a total value of $1,296,840.00. Following the purchase, the insider now owns 10,821,931 shares of the company’s stock, valued at $262,323,607.44. This represents a 0.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of STAAR Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Granite Investment Partners LLC purchased a new position in STAAR Surgical during the second quarter worth about $17,237,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of STAAR Surgical by 50.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 592,621 shares of the medical instruments supplier’s stock worth $28,215,000 after buying an additional 197,717 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of STAAR Surgical by 411.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock valued at $7,978,000 after buying an additional 172,779 shares during the period. American Capital Management Inc. lifted its holdings in shares of STAAR Surgical by 42.9% in the 3rd quarter. American Capital Management Inc. now owns 512,813 shares of the medical instruments supplier’s stock valued at $19,051,000 after buying an additional 154,037 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of STAAR Surgical by 25.9% in the second quarter. Dimensional Fund Advisors LP now owns 459,655 shares of the medical instruments supplier’s stock valued at $21,884,000 after buying an additional 94,422 shares in the last quarter. Hedge funds and other 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.