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

STAAR Surgical (NASDAQ:STAA - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $23.55 and last traded at $23.75, with a volume of 25263 shares traded. The stock had previously closed at $24.21.

Wall Street Analyst Weigh In

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

STAAR Surgical Stock Performance

The company has a 50-day simple moving average of $27.45 and a two-hundred day simple moving average of $33.84. The firm has a market capitalization of $1.19 billion, a P/E ratio of 54.73 and a beta of 0.59.

Insider Activity at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 23,000 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average price of $24.33 per share, with a total value of $559,590.00. Following the completion of the purchase, the insider now directly owns 10,848,631 shares of the company's stock, valued at approximately $263,947,192.23. The trade was a 0.21 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors and hedge funds have recently made changes to their positions in STAA. Geode Capital Management LLC grew its stake in shares of STAAR Surgical by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier's stock worth $43,641,000 after buying an additional 31,212 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in shares of STAAR Surgical by 214.7% in the second quarter. Mutual of America Capital Management LLC now owns 26,459 shares of the medical instruments supplier's stock worth $1,260,000 after acquiring an additional 18,051 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of STAAR Surgical during the third quarter valued at $336,000. ClariVest Asset Management LLC purchased a new position in shares of STAAR Surgical in the 2nd quarter worth about $1,223,000. Finally, Algert Global LLC raised its position in shares of STAAR Surgical by 13.5% in the 2nd quarter. Algert Global LLC now owns 116,655 shares of the medical instruments supplier's stock worth $5,554,000 after purchasing an additional 13,901 shares during the last quarter. Institutional investors own 96.70% of the company's stock.

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.