STAAR Surgical (NASDAQ:STAA) Reaches New 1-Year Low - What's Next?

STAAR Surgical (NASDAQ:STAA - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $17.72 and last traded at $18.26, with a volume of 627069 shares traded. The stock had previously closed at $18.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus cut their price target on shares of STAAR Surgical from $38.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Mizuho cut shares of STAAR Surgical from an "outperform" rating to a "neutral" rating and lowered their price objective for the stock from $45.00 to $17.00 in a research report on Wednesday, February 12th. Wells Fargo & Company initiated coverage on STAAR Surgical in a report on Monday, April 21st. They issued an "equal weight" rating and a $17.00 target price for the company. Canaccord Genuity Group lowered their price target on STAAR Surgical from $28.00 to $17.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Finally, BTIG Research downgraded STAAR Surgical from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $24.25.

STAAR Surgical Trading Down 2.2 %

The business's fifty day moving average price is $17.42 and its 200 day moving average price is $22.17. The company has a market capitalization of $919.70 million, a P/E ratio of -45.33 and a beta of 0.65.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 259,616 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was purchased at an average cost of $14.96 per share, with a total value of $3,883,855.36. Following the completion of the purchase, the insider now owns 11,137,623 shares in the company, valued at approximately $166,618,840.08. The trade was a 2.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have purchased 1,742,581 shares of company stock worth $28,407,543. Corporate insiders own 1.00% of the company's stock.

Institutional Trading of STAAR Surgical

Large investors have recently bought and sold shares of the business. Linden Thomas Advisory Services LLC grew its position in shares of STAAR Surgical by 3.0% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 20,978 shares of the medical instruments supplier's stock valued at $370,000 after acquiring an additional 603 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in STAAR Surgical by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,123 shares of the medical instruments supplier's stock worth $683,000 after purchasing an additional 1,044 shares during the period. MetLife Investment Management LLC grew its holdings in STAAR Surgical by 6.3% during the fourth quarter. MetLife Investment Management LLC now owns 30,396 shares of the medical instruments supplier's stock worth $738,000 after purchasing an additional 1,796 shares during the period. Bridgefront Capital LLC increased its position in STAAR Surgical by 27.2% during the fourth quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier's stock worth $262,000 after buying an additional 2,306 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in STAAR Surgical by 8.3% in the fourth quarter. Illinois Municipal Retirement Fund now owns 30,144 shares of the medical instruments supplier's stock valued at $732,000 after buying an additional 2,318 shares during the period. 96.70% of the stock is 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.