STAAR Surgical (NASDAQ:STAA) Shares Gap Down – What’s Next?

STAAR Surgical (NASDAQ:STAA) shares gapped down before the market opened on Tuesday . The stock had previously closed at $17.62, but opened at $16.45. STAAR Surgical shares last traded at $17.76, with a volume of 96,771 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Stifel Nicolaus dropped their target price on STAAR Surgical from $38.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. StockNews.com cut shares of STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. BTIG Research cut shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 12th. Stephens reissued an “equal weight” rating and issued a $17.00 price objective on shares of STAAR Surgical in a research report on Tuesday. Finally, Canaccord Genuity Group reduced their target price on shares of STAAR Surgical from $28.00 to $17.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.29.

STAAR Surgical Price Performance

The stock has a market cap of $866.10 million, a P/E ratio of -42.79 and a beta of 0.66. The stock has a 50-day simple moving average of $20.29 and a 200-day simple moving average of $26.02.

Insider Buying and Selling

In other news, major shareholder Broadwood Partners, L.P. acquired 21,155 shares of STAAR Surgical stock in a transaction that occurred on Tuesday, January 14th. The shares were acquired at an average price of $21.46 per share, for a total transaction of $453,986.30. Following the transaction, the insider now directly owns 10,869,786 shares of the company’s stock, valued at approximately $233,265,607.56. The trade was a 0.20 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased a total of 857,343 shares of company stock worth $14,213,132 in the last three months. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of STAAR Surgical

A number of hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in STAAR Surgical by 16.7% in the 3rd quarter. Victory Capital Management Inc. now owns 189,481 shares of the medical instruments supplier’s stock valued at $7,039,000 after buying an additional 27,143 shares during the last quarter. Quest Partners LLC acquired a new position in STAAR Surgical in the 3rd quarter valued at approximately $128,000. LMR Partners LLP raised its stake in shares of STAAR Surgical by 2.2% during the third quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier’s stock valued at $1,290,000 after acquiring an additional 743 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of STAAR Surgical by 323.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 30,014 shares of the medical instruments supplier’s stock worth $1,115,000 after purchasing an additional 22,925 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of STAAR Surgical during the third quarter worth $463,000. 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.