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

STAAR Surgical (NASDAQ:STAA)’s share price gapped down before the market opened 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.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. 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 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 decreased their price objective on 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.33.

STAAR Surgical Stock Performance

The business has a 50 day simple moving average of $30.58 and a 200-day simple moving average of $36.06. The stock has a market capitalization of $1.37 billion, a P/E ratio of 66.14 and a beta of 0.61.

Hedge Funds Weigh In On STAAR Surgical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI bought a new position in STAAR Surgical during the 3rd quarter valued at $37,000. Quarry LP bought a new position in STAAR Surgical during the 3rd quarter valued at $50,000. Quest Partners LLC bought a new position in STAAR Surgical during the 3rd quarter valued at $128,000. Canada Pension Plan Investment Board bought a new position in STAAR Surgical during the 2nd quarter valued at $129,000. Finally, Van ECK Associates Corp boosted its stake in STAAR Surgical by 12.7% during the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after purchasing an additional 393 shares in 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.