STAAR Surgical (NASDAQ:STAA) Reaches New 52-Week Low – Here’s What Happened

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stephens raised STAAR Surgical to a “hold” rating in a research note on Monday. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st. Canaccord Genuity Group decreased their price objective on shares of STAAR Surgical from $41.00 to $31.00 and set a “hold” rating for the company in a report on Friday, November 1st. Finally, Stifel Nicolaus cut their target price on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, STAAR Surgical has an average rating of “Hold” and an average target price of $43.33.

STAAR Surgical Stock Performance

The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 57.45 and a beta of 0.59. The firm’s fifty day simple moving average is $30.14 and its 200 day simple moving average is $35.70.

Institutional Investors Weigh In On STAAR Surgical

Several institutional investors have recently added to or reduced their stakes in STAA. Franklin Resources Inc. raised its stake in shares of STAAR Surgical by 80.1% in the 3rd quarter. Franklin Resources Inc. now owns 31,844 shares of the medical instruments supplier’s stock valued at $1,183,000 after purchasing an additional 14,162 shares during the period. Geode Capital Management LLC grew its holdings in shares of STAAR Surgical by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock worth $43,641,000 after buying an additional 31,212 shares in the last quarter. Barclays PLC raised its position in STAAR Surgical by 349.4% in the 3rd quarter. Barclays PLC now owns 91,707 shares of the medical instruments supplier’s stock valued at $3,406,000 after buying an additional 71,301 shares during the last quarter. XTX Topco Ltd bought a new stake in STAAR Surgical in the 3rd quarter valued at approximately $508,000. Finally, State Street Corp boosted its position in STAAR Surgical by 0.5% during the 3rd quarter. State Street Corp now owns 1,940,567 shares of the medical instruments supplier’s stock worth $72,092,000 after acquiring an additional 10,430 shares during the last quarter. 96.70% of the stock is owned by 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.