STAAR Surgical (NASDAQ:STAA) Shares Gap Down - Here's Why

STAAR Surgical (NASDAQ:STAA - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $16.89, but opened at $16.28. STAAR Surgical shares last traded at $16.26, with a volume of 28,418 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Needham & Company LLC restated a "hold" rating on shares of STAAR Surgical in a research report on Thursday, February 27th. William Blair cut STAAR Surgical from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 12th. Piper Sandler decreased their price objective on STAAR Surgical from $40.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Wells Fargo & Company began coverage on STAAR Surgical in a research report on Monday. They set an "equal weight" rating and a $17.00 price objective on the stock. Finally, StockNews.com downgraded shares of STAAR Surgical from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, STAAR Surgical presently has an average rating of "Hold" and a consensus target price of $24.25.

STAAR Surgical Stock Performance

The firm has a market cap of $856.97 million, a price-to-earnings ratio of -42.38 and a beta of 0.75. The business's 50-day moving average is $17.19 and its 200-day moving average is $22.94.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 497,631 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $15.91 per share, for a total transaction of $7,917,309.21. Following the completion of the acquisition, the insider now owns 13,194,210 shares of the company's stock, valued at approximately $209,919,881.10. This trade represents a 3.92 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders bought 1,742,581 shares of company stock valued at $28,407,543. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS bought a new position in shares of STAAR Surgical in the fourth quarter worth about $180,000. GAMMA Investing LLC raised its position in STAAR Surgical by 4,086.0% in the 1st quarter. GAMMA Investing LLC now owns 14,651 shares of the medical instruments supplier's stock worth $258,000 after purchasing an additional 14,301 shares during the last quarter. Bridgefront Capital LLC lifted its holdings in STAAR Surgical by 27.2% during the 4th quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier's stock worth $262,000 after buying an additional 2,306 shares in the last quarter. Quantbot Technologies LP bought a new position in STAAR Surgical in the 4th quarter valued at $278,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of STAAR Surgical in the 4th quarter valued at $292,000. 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.