STAAR Surgical (NASDAQ:STAA) Trading Down 3% – Here’s What Happened

STAAR Surgical (NASDAQ:STAA)’s share price dropped 3% during mid-day trading on Thursday . The company traded as low as $24.22 and last traded at $24.23. Approximately 34,277 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 699,621 shares. The stock had previously closed at $24.97.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st. Canaccord Genuity Group cut their price target on 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 upgraded STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.83.

STAAR Surgical Price Performance

The stock has a market cap of $1.20 billion, a P/E ratio of 55.50 and a beta of 0.59. The business’s fifty day moving average price is $27.71 and its 200 day moving average price is $34.09.

Insider Activity

In related news, major shareholder Broadwood Partners, L.P. bought 23,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost of $24.33 per share, with a total value of $559,590.00. Following the transaction, the insider now directly owns 10,848,631 shares in the company, valued at approximately $263,947,192.23. This trade represents a 0.21 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp raised 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 purchasing an additional 393 shares during the last quarter. Sei Investments Co. raised its stake in STAAR Surgical by 2.7% during the second quarter. Sei Investments Co. now owns 15,087 shares of the medical instruments supplier’s stock worth $718,000 after buying an additional 394 shares during the last quarter. Creative Planning lifted its holdings in STAAR Surgical by 8.0% in the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock valued at $205,000 after buying an additional 408 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in STAAR Surgical by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,291 shares of the medical instruments supplier’s stock valued at $442,000 after acquiring an additional 652 shares during the last quarter. Finally, LMR Partners LLP grew its holdings in STAAR Surgical by 2.2% during the 3rd quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier’s stock worth $1,290,000 after acquiring an additional 743 shares during the period. 96.70% of the stock is currently owned by institutional investors.

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.