STAAR Surgical (NASDAQ:STAA) Sets New 52-Week Low – Time to Sell?

STAAR Surgical (NASDAQ:STAA) shares hit a new 52-week low on Monday . The stock traded as low as $23.10 and last traded at $23.10, with a volume of 412662 shares trading hands. The stock had previously closed at $24.54.

Wall Street Analysts Forecast Growth

STAA has been the topic of a number of recent analyst reports. Stephens raised STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Canaccord Genuity Group decreased 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, Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.83.

STAAR Surgical Price Performance

The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 53.02 and a beta of 0.63. The business has a fifty day moving average price of $26.83 and a two-hundred day moving average price of $33.25.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. acquired 23,000 shares of STAAR Surgical stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price of $24.33 per share, for a total transaction of $559,590.00. Following the purchase, the insider now owns 10,848,631 shares of the company’s stock, valued at approximately $263,947,192.23. This represents a 0.21 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Institutional Trading of STAAR Surgical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its position in STAAR Surgical by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 146,775 shares of the medical instruments supplier’s stock worth $6,988,000 after purchasing an additional 1,039 shares in the last quarter. Larson Financial Group LLC acquired a new stake in STAAR Surgical during the second quarter valued at $130,000. Victory Capital Management Inc. increased its holdings in STAAR Surgical by 0.7% in the second quarter. Victory Capital Management Inc. now owns 162,338 shares of the medical instruments supplier’s stock valued at $7,729,000 after buying an additional 1,153 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of STAAR Surgical in the second quarter worth about $440,000. Finally, ClariVest Asset Management LLC purchased a new stake in shares of STAAR Surgical during the 2nd quarter worth about $1,223,000. 96.70% of the stock is owned by institutional investors and hedge funds.

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.