Principal Financial Group Inc. Trims Stake in STAAR Surgical (NASDAQ:STAA)

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

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Arcadia Investment Management Corp MI bought a new stake in shares of STAAR Surgical in the third quarter worth about $37,000. Covestor Ltd boosted its position in shares of STAAR Surgical by 38.9% during the 1st quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier's stock valued at $103,000 after acquiring an additional 754 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of STAAR Surgical in the second quarter valued at $129,000. Van ECK Associates Corp increased its position in STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier's stock worth $129,000 after purchasing an additional 393 shares during the last quarter. Finally, Larson Financial Group LLC bought a new stake in STAAR Surgical in the second quarter worth $130,000. 96.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of STAAR Surgical in a research report on Thursday, October 31st. Canaccord Genuity Group reduced their price objective on STAAR Surgical from $41.00 to $31.00 and set a "hold" rating on the stock in a research note on Friday, November 1st. Finally, Stifel Nicolaus lowered their price objective on STAAR Surgical from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, STAAR Surgical has an average rating of "Hold" and an average price target of $43.33.

STAAR Surgical Stock Performance

STAAR Surgical stock traded down $0.28 during mid-day trading on Monday, hitting $26.38. The company's stock had a trading volume of 487,521 shares, compared to its average volume of 711,903. STAAR Surgical has a one year low of $26.06 and a one year high of $52.68. The stock has a market cap of $1.30 billion, a PE ratio of 60.59 and a beta of 0.61. The company has a 50 day moving average of $31.29 and a 200-day moving average of $37.23.

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.