STAAR Surgical (NASDAQ:STAA) Sets New 12-Month Low - Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STAA. Mizuho downgraded STAAR Surgical from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $45.00 to $17.00 in a report on Wednesday, February 12th. Jefferies Financial Group cut STAAR Surgical from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Wells Fargo & Company began coverage on STAAR Surgical in a report on Monday, April 21st. They set an "equal weight" rating and a $17.00 price objective for the company. Canaccord Genuity Group lowered their target price on shares of STAAR Surgical from $28.00 to $17.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler cut their price target on shares of STAAR Surgical from $40.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $24.25.

STAAR Surgical Price Performance

The company's 50 day moving average price is $17.29 and its 200 day moving average price is $22.57. The firm has a market capitalization of $900.67 million, a P/E ratio of -44.54 and a beta of 0.75.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 8,200 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The shares were acquired at an average cost of $15.08 per share, for a total transaction of $123,656.00. Following the completion of the acquisition, the insider now directly owns 13,518,591 shares of the company's stock, valued at approximately $203,860,352.28. This represents a 0.06 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 1,742,581 shares of company stock worth $28,407,543 over the last 90 days. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new stake in STAAR Surgical in the fourth quarter valued at about $180,000. GAMMA Investing LLC raised its position in shares of STAAR Surgical by 4,086.0% in the 1st quarter. GAMMA Investing LLC now owns 14,651 shares of the medical instruments supplier's stock valued at $258,000 after acquiring an additional 14,301 shares during the period. Bridgefront Capital LLC boosted its stake in STAAR Surgical by 27.2% during the 4th quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier's stock worth $262,000 after acquiring an additional 2,306 shares during the last quarter. Quantbot Technologies LP acquired a new position in STAAR Surgical during the fourth quarter valued at approximately $278,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in STAAR Surgical in the fourth quarter valued at approximately $292,000. Institutional investors and hedge funds own 96.70% of the company's stock.

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.

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