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

Shares of STAAR Surgical (NASDAQ:STAA) hit a new 52-week low during trading on Friday . The company traded as low as $24.71 and last traded at $24.83, with a volume of 49325 shares traded. The stock had previously closed at $25.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on STAA shares. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research note on Thursday, October 31st. Stifel Nicolaus lowered their target price on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Stephens upgraded shares of STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group decreased their price target on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday. One investment 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 data from MarketBeat, STAAR Surgical presently has an average rating of “Hold” and an average target price of $42.83.

STAAR Surgical Stock Performance

The stock has a 50-day moving average of $29.11 and a 200-day moving average of $35.12. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 57.70 and a beta of 0.59.

Hedge Funds Weigh In On STAAR Surgical

Large investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new position in shares of STAAR Surgical during the third quarter valued at about $37,000. Quarry LP bought a new stake in shares of STAAR Surgical during the 3rd quarter valued at about $50,000. Quest Partners LLC bought a new stake in shares of STAAR Surgical during the 3rd quarter worth $128,000. Canada Pension Plan Investment Board bought a new stake in STAAR Surgical in the second quarter worth $129,000. Finally, 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 valued at $129,000 after buying an additional 393 shares during the last quarter. 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.