STAAR Surgical (NASDAQ:STAA) Shares Gap Down – Should You Sell?

STAAR Surgical (NASDAQ:STAA)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $17.62, but opened at $16.45. STAAR Surgical shares last traded at $17.76, with a volume of 96,771 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus dropped their price target on STAAR Surgical from $38.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. BTIG Research cut STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 12th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, February 27th. Stephens reiterated an “equal weight” rating and set a $17.00 price target on shares of STAAR Surgical in a research report on Tuesday. Finally, StockNews.com cut STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.29.

STAAR Surgical Stock Performance

The firm has a market capitalization of $900.18 million, a P/E ratio of -44.51 and a beta of 0.66. The business has a fifty day moving average of $20.08 and a 200-day moving average of $25.87.

Insider Buying and Selling at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. purchased 21,155 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was purchased at an average cost of $21.46 per share, with a total value of $453,986.30. Following the purchase, the insider now owns 10,869,786 shares in the company, valued at $233,265,607.56. This trade represents a 0.20 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders bought 834,343 shares of company stock valued at $13,653,542. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of STAAR Surgical during the 3rd quarter worth $50,000. Quest Partners LLC bought a new stake in shares of STAAR Surgical during the 3rd quarter worth $128,000. Larson Financial Group LLC boosted its stake in shares of STAAR Surgical by 78.3% during the 3rd quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier’s stock worth $181,000 after acquiring an additional 2,135 shares in the last quarter. FMR LLC boosted its stake in shares of STAAR Surgical by 79.3% during the 3rd quarter. FMR LLC now owns 7,092 shares of the medical instruments supplier’s stock worth $263,000 after acquiring an additional 3,136 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of STAAR Surgical during the 4th quarter worth $180,000. 96.70% of the stock is owned by institutional investors.

About STAAR Surgical

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.