STAAR Surgical (NASDAQ:STAA) Reaches New 1-Year Low - Here's Why

Shares of STAAR Surgical (NASDAQ:STAA - Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $26.63 and last traded at $26.66, with a volume of 384914 shares trading hands. The stock had previously closed at $27.30.

Analyst Upgrades and Downgrades

STAA has been the topic of several research reports. Stifel Nicolaus decreased their price objective on shares of STAAR Surgical from $50.00 to $44.00 and set a "buy" rating on the stock in a report on Monday, August 26th. Needham & Company LLC restated a "hold" rating on shares of STAAR Surgical in a research note on Thursday, October 31st. Finally, Canaccord Genuity Group dropped their price objective on STAAR Surgical from $41.00 to $31.00 and set a "hold" rating for the company in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, STAAR Surgical presently has a consensus rating of "Hold" and a consensus target price of $43.33.

STAAR Surgical Stock Down 2.3 %

The business's 50 day moving average is $31.38 and its 200 day moving average is $37.48. The company has a market cap of $1.31 billion, a P/E ratio of 62.03 and a beta of 0.61.

Hedge Funds Weigh In On STAAR Surgical

Large investors have recently bought and sold shares of the business. Granite Investment Partners LLC purchased a new stake in shares of STAAR Surgical during the 2nd quarter valued at approximately $17,237,000. Yunqi Capital Ltd grew its position in STAAR Surgical by 162.0% in the 1st quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier's stock valued at $19,726,000 after acquiring an additional 318,600 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in STAAR Surgical by 50.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 592,621 shares of the medical instruments supplier's stock valued at $28,215,000 after acquiring an additional 197,717 shares in the last quarter. American Capital Management Inc. increased its stake in STAAR Surgical by 42.9% during the third quarter. American Capital Management Inc. now owns 512,813 shares of the medical instruments supplier's stock worth $19,051,000 after purchasing an additional 154,037 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of STAAR Surgical by 25.9% during the second quarter. Dimensional Fund Advisors LP now owns 459,655 shares of the medical instruments supplier's stock worth $21,884,000 after purchasing an additional 94,422 shares in the last quarter. 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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