STAAR Surgical (NASDAQ:STAA) Trading Down 6.1% – Should You Sell?

STAAR Surgical (NASDAQ:STAA)’s share price traded down 6.1% during mid-day trading on Tuesday . The stock traded as low as $18.40 and last traded at $18.44. 171,372 shares changed hands during trading, a decline of 85% from the average session volume of 1,108,150 shares. The stock had previously closed at $19.65.

Wall Street Analysts Forecast Growth

STAA has been the subject of a number of research reports. Canaccord Genuity Group decreased their target price on shares of STAAR Surgical from $28.00 to $17.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Piper Sandler decreased their price objective on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Mizuho cut STAAR Surgical from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $45.00 to $17.00 in a research report on Wednesday, February 12th. William Blair downgraded STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Finally, Stephens reaffirmed an “equal weight” rating and set a $28.00 price objective on shares of STAAR Surgical in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.86.

STAAR Surgical Stock Performance

The company has a 50 day moving average price of $20.93 and a two-hundred day moving average price of $26.55. The firm has a market capitalization of $896.88 million, a price-to-earnings ratio of -44.40 and a beta of 0.66.

Insider Buying and Selling at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of STAAR Surgical stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price of $24.33 per share, for a total transaction of $559,590.00. Following the transaction, the insider now directly owns 10,848,631 shares in the company, valued at approximately $263,947,192.23. This trade represents a 0.21 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 910,843 shares of company stock valued at $15,509,972 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

Several large investors have recently bought and sold shares of STAA. Quarry LP acquired a new stake in shares of STAAR Surgical in the third quarter worth approximately $50,000. Quest Partners LLC purchased a new position in STAAR Surgical in the 3rd quarter valued at $128,000. Van ECK Associates Corp boosted its stake in STAAR Surgical by 12.7% during the 3rd 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 during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in STAAR Surgical during the 4th quarter worth $180,000. Finally, Larson Financial Group LLC grew its holdings in shares of STAAR Surgical by 78.3% during the third quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier’s stock worth $181,000 after buying an additional 2,135 shares in the last quarter. 96.70% of the stock is currently owned by hedge funds and other 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.