STAAR Surgical (NASDAQ:STAA) Shares Down 3.8% – Should You Sell?

STAAR Surgical Company (NASDAQ:STAA)’s stock price traded down 3.8% during mid-day trading on Monday . The stock traded as low as $26.88 and last traded at $26.9370. 114,188 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,160,364 shares. The stock had previously closed at $28.00.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Stifel Nicolaus set a $28.00 target price on STAAR Surgical and gave the stock a “hold” rating in a report on Thursday, August 7th. Piper Sandler restated a “neutral” rating on shares of STAAR Surgical in a report on Monday, October 27th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $28.00 price objective on shares of STAAR Surgical in a research note on Tuesday, October 21st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of STAAR Surgical in a research report on Wednesday, October 8th. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $20.67.

STAAR Surgical Price Performance

The business has a 50-day moving average of $26.56 and a two-hundred day moving average of $22.91. The company has a market cap of $1.32 billion, a P/E ratio of -13.76 and a beta of 0.92.

Insider Buying and Selling

In other news, major shareholder Broadwood Partners, L.P. bought 797,486 shares of the stock in a transaction on Friday, November 21st. The stock was bought at an average cost of $27.86 per share, for a total transaction of $22,217,959.96. Following the completion of the purchase, the insider directly owned 15,019,491 shares in the company, valued at approximately $418,443,019.26. The trade was a 5.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 1,500,000 shares of company stock worth $41,061,615 over the last three months. Corporate insiders own 0.59% of the company’s stock.

Institutional Trading of STAAR Surgical

Institutional investors have recently made changes to their positions in the business. Pinnacle Investment Management Ltd acquired a new stake in STAAR Surgical in the first quarter worth about $1,155,000. Strs Ohio acquired a new stake in STAAR Surgical in the 1st quarter worth approximately $190,000. Assenagon Asset Management S.A. grew its position in STAAR Surgical by 213.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 164,088 shares of the medical instruments supplier’s stock worth $2,753,000 after purchasing an additional 111,686 shares during the last quarter. Caxton Associates LLP acquired a new position in STAAR Surgical during the 1st quarter valued at approximately $1,051,000. Finally, Yunqi Capital Ltd increased its stake in STAAR Surgical by 24.4% during the 2nd quarter. Yunqi Capital Ltd now owns 2,411,288 shares of the medical instruments supplier’s stock valued at $40,461,000 after purchasing an additional 473,699 shares in the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

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.