STAAR Surgical (NASDAQ:STAA) Stake Cut by Bridgewater Associates LP

Bridgewater Associates LP decreased its position in STAAR Surgical (NASDAQ:STAA - Free Report) by 51.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 19,281 shares of the medical instruments supplier's stock after selling 20,559 shares during the period. Bridgewater Associates LP's holdings in STAAR Surgical were worth $716,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC increased its stake in shares of STAAR Surgical by 214.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 26,459 shares of the medical instruments supplier's stock worth $1,260,000 after purchasing an additional 18,051 shares in the last quarter. Algert Global LLC boosted its stake in shares of STAAR Surgical by 13.5% during 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. ClariVest Asset Management LLC purchased a new stake in shares of STAAR Surgical during the second quarter worth about $1,223,000. Granite Investment Partners LLC purchased a new position in shares of STAAR Surgical during the second quarter valued at approximately $17,237,000. Finally, Cetera Investment Advisers purchased a new position in shares of STAAR Surgical during the second quarter valued at approximately $1,135,000. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

STAAR Surgical Price Performance

STAA traded down $1.23 during trading hours on Tuesday, reaching $26.49. 701,408 shares of the stock traded hands, compared to its average volume of 707,240. The firm's fifty day simple moving average is $30.53 and its two-hundred day simple moving average is $35.95. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 60.14 and a beta of 0.59. STAAR Surgical has a fifty-two week low of $25.82 and a fifty-two week high of $52.68.

Analyst Upgrades and Downgrades

STAA has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of STAAR Surgical in a research note on Thursday, October 31st. Canaccord Genuity Group dropped their target price on shares of STAAR Surgical from $41.00 to $31.00 and set a "hold" rating for the company in a research report on Friday, November 1st. Finally, Stifel Nicolaus reduced their price target on shares of STAAR Surgical from $50.00 to $44.00 and set a "buy" rating on the stock in a research report on Monday, August 26th. One equities research 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, the stock currently has an average rating of "Hold" and an average price target of $43.33.

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.