Principal Financial Group Inc. Sells 23,389 Shares of STAAR Surgical (NASDAQ:STAA)

Principal Financial Group Inc. cut its holdings in shares of STAAR Surgical (NASDAQ:STAA - Free Report) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,584 shares of the medical instruments supplier's stock after selling 23,389 shares during the quarter. Principal Financial Group Inc. owned approximately 0.56% of STAAR Surgical worth $10,312,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Arcadia Investment Management Corp MI acquired a new position in STAAR Surgical during the third quarter worth $37,000. Quarry LP bought a new position in shares of STAAR Surgical in the 3rd quarter valued at about $50,000. Canada Pension Plan Investment Board acquired a new position in shares of STAAR Surgical during the 2nd quarter worth about $129,000. Larson Financial Group LLC bought a new stake in shares of STAAR Surgical in the 2nd quarter valued at about $130,000. Finally, Quest Partners LLC acquired a new stake in STAAR Surgical in the 3rd quarter valued at about $128,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

STAAR Surgical Price Performance

STAA stock traded up $0.21 during midday trading on Tuesday, reaching $24.29. The company had a trading volume of 499,374 shares, compared to its average volume of 697,430. STAAR Surgical has a 1-year low of $23.55 and a 1-year high of $52.68. The stock has a 50 day moving average price of $27.32 and a 200-day moving average price of $33.72. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 55.20 and a beta of 0.59.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 53,500 shares of STAAR Surgical stock in a transaction on Monday, December 16th. The shares were purchased at an average price of $24.24 per share, with a total value of $1,296,840.00. Following the acquisition, the insider now owns 10,821,931 shares in the company, valued at $262,323,607.44. This trade represents a 0.50 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on STAA shares. Canaccord Genuity Group dropped their price target on STAAR Surgical from $31.00 to $28.00 and set a "hold" rating on the stock in a research note on Monday, December 9th. Needham & Company LLC reissued a "hold" rating on shares of STAAR Surgical in a research report on Thursday, October 31st. Finally, Stephens raised shares of STAAR Surgical to a "hold" rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $42.83.

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.