STAAR Surgical (NASDAQ:STAA) Shares Down 5.2% – Should You Sell?

STAAR Surgical Company (NASDAQ:STAA) fell 5.2% on Friday . The stock traded as low as $22.33 and last traded at $22.2130. 330,241 shares changed hands during trading, a decline of 71% from the average session volume of 1,150,857 shares. The stock had previously closed at $23.42.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Piper Sandler reaffirmed a “neutral” rating on shares of STAAR Surgical in a report on Thursday, August 13th. William Blair set a $33.00 price objective on STAAR Surgical in a research note on Thursday, August 13th. Zacks Research lowered shares of STAAR Surgical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Wall Street Zen downgraded shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Stifel Nicolaus reduced their target price on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, August 17th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $28.40.

STAAR Surgical Stock Performance

The stock’s 50 day moving average price is $24.56 and its 200 day moving average price is $24.93. The company has a market capitalization of $1.14 billion, a P/E ratio of 323.76 and a beta of 1.21.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, August 12th. The medical instruments supplier reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.17. The business had revenue of $93.53 million during the quarter, compared to the consensus estimate of $90.60 million. STAAR Surgical had a net margin of 1.13% and a return on equity of 9.05%. STAAR Surgical’s quarterly revenue was up 111.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.34) earnings per share. On average, analysts expect that STAAR Surgical Company will post 0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On STAAR Surgical

Several large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of STAAR Surgical by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock worth $518,000 after buying an additional 1,267 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of STAAR Surgical by 33.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier’s stock valued at $9,606,000 after acquiring an additional 136,390 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in STAAR Surgical by 11.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,347 shares of the medical instruments supplier’s stock worth $2,175,000 after acquiring an additional 12,841 shares in the last quarter. Creative Planning boosted its stake in STAAR Surgical by 19.9% during the second quarter. Creative Planning now owns 15,695 shares of the medical instruments supplier’s stock worth $263,000 after acquiring an additional 2,606 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in STAAR Surgical by 183.2% in the second quarter. JPMorgan Chase & Co. now owns 153,371 shares of the medical instruments supplier’s stock worth $2,574,000 after purchasing an additional 99,218 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.