STAAR Surgical (NASDAQ:STAA) Sets New 52-Week Low – What’s Next?

STAAR Surgical (NASDAQ:STAA)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $25.77 and last traded at $25.95, with a volume of 449417 shares changing hands. The stock had previously closed at $26.49.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STAA. Stifel Nicolaus decreased their price target on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Canaccord Genuity Group decreased their price target on STAAR Surgical from $41.00 to $31.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st. One 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $43.33.

STAAR Surgical Stock Down 2.0 %

The firm has a fifty day moving average price of $30.41 and a two-hundred day moving average price of $35.84. The stock has a market capitalization of $1.28 billion, a P/E ratio of 60.20 and a beta of 0.59.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of 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 valued at $129,000 after buying an additional 393 shares in the last quarter. Sei Investments Co. increased its stake in STAAR Surgical by 2.7% in the 2nd quarter. Sei Investments Co. now owns 15,087 shares of the medical instruments supplier’s stock worth $718,000 after acquiring an additional 394 shares during the last quarter. Creative Planning increased its stake in STAAR Surgical by 8.0% in the 3rd quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock worth $205,000 after acquiring an additional 408 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of STAAR Surgical by 3.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,343 shares of the medical instruments supplier’s stock valued at $540,000 after purchasing an additional 418 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its position in shares of STAAR Surgical by 2.3% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 20,721 shares of the medical instruments supplier’s stock valued at $987,000 after purchasing an additional 469 shares during the last quarter. 96.70% of the stock is 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.