STAAR Surgical (NASDAQ:STAA) Shares Gap Down – Here’s Why

STAAR Surgical (NASDAQ:STAA) shares gapped down prior to trading on Monday . The stock had previously closed at $29.10, but opened at $28.26. STAAR Surgical shares last traded at $28.00, with a volume of 44,692 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Needham & Company LLC reaffirmed 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 on the stock in a report on Friday, November 1st. Finally, Stifel Nicolaus dropped their target price on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, STAAR Surgical has an average rating of “Hold” and an average target price of $43.33.

STAAR Surgical Price Performance

The firm has a market cap of $1.31 billion, a PE ratio of 60.20 and a beta of 0.59. The company’s 50 day moving average price is $30.53 and its 200 day moving average price is $35.95.

Institutional Trading of STAAR Surgical

Several hedge funds have recently modified their holdings of the stock. Granite Investment Partners LLC purchased a new stake in STAAR Surgical during the 2nd quarter worth about $17,237,000. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of STAAR Surgical by 50.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 592,621 shares of the medical instruments supplier’s stock worth $28,215,000 after buying an additional 197,717 shares in the last quarter. American Capital Management Inc. increased its stake in shares of STAAR Surgical by 42.9% during the third quarter. American Capital Management Inc. now owns 512,813 shares of the medical instruments supplier’s stock worth $19,051,000 after buying an additional 154,037 shares during the period. Dimensional Fund Advisors LP raised its holdings in STAAR Surgical by 25.9% in the second quarter. Dimensional Fund Advisors LP now owns 459,655 shares of the medical instruments supplier’s stock valued at $21,884,000 after acquiring an additional 94,422 shares in the last quarter. Finally, Roubaix Capital LLC purchased a new position in STAAR Surgical in the second quarter worth approximately $4,293,000. 96.70% of the stock is currently 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.