STAAR Surgical (NASDAQ:STAA) Stock Price Down 5.9% – What’s Next?

STAAR Surgical Company (NASDAQ:STAA) traded down 5.9% on Monday . The company traded as low as $23.72 and last traded at $23.87. 321,261 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 1,138,931 shares. The stock had previously closed at $25.38.

Analyst Ratings Changes

Several analysts have issued reports on STAA shares. Canaccord Genuity Group increased their price objective on shares of STAAR Surgical from $28.00 to $30.75 and gave the company a “hold” rating in a research report on Tuesday. Wells Fargo & Company raised their price target on shares of STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (d)” rating on shares of STAAR Surgical in a report on Wednesday, October 8th. Finally, Piper Sandler reissued a “neutral” rating on shares of STAAR Surgical in a research report on Monday, October 27th. Ten equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, STAAR Surgical has an average rating of “Reduce” and an average target price of $23.42.

STAAR Surgical Stock Performance

The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -12.30 and a beta of 1.01. The business’s 50 day moving average price is $26.23 and its 200-day moving average price is $23.49.

Insider Buying and Selling at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. purchased 797,486 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average cost of $27.86 per share, with a total value of $22,217,959.96. Following the transaction, the insider owned 15,019,491 shares in the company, valued at approximately $418,443,019.26. The trade was a 5.61% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders purchased 1,500,000 shares of company stock valued at $41,061,615. 0.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. CWM LLC lifted its holdings in STAAR Surgical by 74.1% in the second quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after acquiring an additional 665 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of STAAR Surgical by 2,605.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 1,016 shares during the period. US Bancorp DE lifted its holdings in shares of STAAR Surgical by 1,693.0% in the 1st quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 1,930 shares during the last quarter. Brooklyn Investment Group boosted its position in STAAR Surgical by 1,564.0% during the 1st quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier’s stock valued at $47,000 after purchasing an additional 2,518 shares during the period. Finally, GAMMA Investing LLC boosted its position in STAAR Surgical by 61.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 706 shares during the period. 96.70% of the stock is currently owned by institutional investors.

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.