STAAR Surgical (NASDAQ:STAA) Reaches New 12-Month Low - Time to Sell?

Shares of STAAR Surgical (NASDAQ:STAA - Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $21.87 and last traded at $21.97, with a volume of 63943 shares trading hands. The stock had previously closed at $23.00.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Needham & Company LLC restated a "hold" rating on shares of STAAR Surgical in a research report on Tuesday, January 7th. Canaccord Genuity Group cut their target price on shares of STAAR Surgical from $31.00 to $28.00 and set a "hold" rating on the stock in a report on Monday, December 9th. Finally, Stephens raised 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 issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $42.83.

STAAR Surgical Stock Down 2.3 %

The firm's 50 day simple moving average is $26.07 and its 200 day simple moving average is $32.42. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 51.09 and a beta of 0.63.

Insider Activity at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. bought 23,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of $24.33 per share, with a total value of $559,590.00. Following the purchase, the insider now owns 10,848,631 shares in the company, valued at approximately $263,947,192.23. This represents a 0.21 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STAA. State Street Corp lifted its position in STAAR Surgical by 0.5% in the third quarter. State Street Corp now owns 1,940,567 shares of the medical instruments supplier's stock worth $72,092,000 after purchasing an additional 10,430 shares during the period. Geode Capital Management LLC raised 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 in the last quarter. Geneva Capital Management LLC lifted its holdings in shares of STAAR Surgical by 0.3% in the third quarter. Geneva Capital Management LLC now owns 695,415 shares of the medical instruments supplier's stock valued at $25,835,000 after buying an additional 2,241 shares during the period. Defender Capital LLC. raised its position in STAAR Surgical by 4.4% in the third quarter. Defender Capital LLC. now owns 677,617 shares of the medical instruments supplier's stock worth $25,173,000 after acquiring an additional 28,430 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings 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 during the last quarter. 96.70% of the stock is currently owned by institutional investors.

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.