STAAR Surgical (NASDAQ:STAA) Shares Down 3% - Here's What Happened

Shares of STAAR Surgical (NASDAQ:STAA - Get Free Report) were down 3% on Thursday . The company traded as low as $24.22 and last traded at $24.23. Approximately 34,277 shares traded hands during trading, a decline of 95% from the average daily volume of 699,621 shares. The stock had previously closed at $24.97.

Analysts Set New Price Targets

STAA has been the subject of several research analyst reports. Stephens raised shares of STAAR Surgical to a "hold" rating in a research report on Monday, December 2nd. Canaccord Genuity Group dropped their price objective 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, Needham & Company LLC restated a "hold" rating on shares of STAAR Surgical in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, STAAR Surgical currently has an average rating of "Hold" and a consensus target price of $42.83.

STAAR Surgical Price Performance

The firm's fifty day simple moving average is $27.59 and its 200 day simple moving average is $34.02. The company has a market capitalization of $1.21 billion, a PE ratio of 55.91 and a beta of 0.59.

Insider Transactions at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. bought 53,500 shares of the stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $24.24 per share, with a total value of $1,296,840.00. Following the purchase, the insider now directly owns 10,821,931 shares in the company, valued at $262,323,607.44. The trade was a 0.50 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On STAAR Surgical

A number of large investors have recently bought and sold shares of the business. Arcadia Investment Management Corp MI purchased a new stake in shares of STAAR Surgical in the third quarter valued at approximately $37,000. Quarry LP purchased a new stake in STAAR Surgical in the 3rd quarter worth $50,000. Quest Partners LLC acquired a new position in STAAR Surgical during the third quarter worth $128,000. Canada Pension Plan Investment Board acquired a new stake in shares of STAAR Surgical in the second quarter valued at about $129,000. Finally, Van ECK Associates Corp increased its stake in shares of 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 worth $129,000 after purchasing an additional 393 shares in the last quarter. Institutional investors and hedge funds own 96.70% of the company's stock.

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.