STAAR Surgical (NASDAQ:STAA) Trading Down 6.1% – Here’s What Happened

STAAR Surgical (NASDAQ:STAA) fell 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 were traded 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

Several research analysts recently commented on the company. Mizuho lowered STAAR Surgical from an “outperform” rating to a “neutral” rating and dropped their price target for the stock 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 research report on Wednesday, February 12th. Jefferies Financial Group lowered STAAR Surgical from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Stifel Nicolaus dropped their price objective on shares of STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group cut their price target on shares of STAAR Surgical from $28.00 to $17.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.86.

STAAR Surgical Stock Down 3.3 %

The stock has a market cap of $858.75 million, a PE ratio of -42.46 and a beta of 0.66. The firm has a 50 day moving average price of $20.69 and a 200 day moving average price of $26.38.

Insiders Place Their Bets

In other news, major shareholder Broadwood Partners, L.P. bought 249,503 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $16.64 per share, with a total value of $4,151,729.92. Following the completion of the transaction, the insider now directly owns 11,953,198 shares of the company’s stock, valued at approximately $198,901,214.72. The trade was a 2.13 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased a total of 910,843 shares of company stock worth $15,509,972 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

A number of large investors have recently made changes to their positions in STAA. Quarry LP purchased a new stake in STAAR Surgical during the 3rd quarter worth approximately $50,000. Quest Partners LLC purchased a new position in shares of STAAR Surgical in the third quarter worth about $128,000. Van ECK Associates Corp lifted its holdings 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 during the period. KLP Kapitalforvaltning AS purchased a new stake in STAAR Surgical in the fourth quarter valued at approximately $180,000. Finally, Larson Financial Group LLC raised its position in STAAR Surgical by 78.3% during the 3rd 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 during the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

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.