Baillie Gifford & Co. Sells 2,221,897 Shares of STAAR Surgical (NASDAQ:STAA)

Baillie Gifford & Co. reduced its stake in STAAR Surgical (NASDAQ:STAA - Free Report) by 60.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,460,485 shares of the medical instruments supplier's stock after selling 2,221,897 shares during the quarter. Baillie Gifford & Co. owned about 2.96% of STAAR Surgical worth $54,257,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

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

STAAR Surgical Stock Performance

Shares of NASDAQ STAA traded down $0.58 during midday trading on Wednesday, hitting $28.44. 429,398 shares of the stock traded hands, compared to its average volume of 714,502. STAAR Surgical has a one year low of $26.66 and a one year high of $52.68. The business has a 50 day moving average price of $31.52 and a two-hundred day moving average price of $37.62. The company has a market cap of $1.40 billion, a PE ratio of 65.95 and a beta of 0.61.

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.