STAAR Surgical (NASDAQ:STAA) Trading Down 4.7% – What’s Next?

STAAR Surgical Company (NASDAQ:STAA) shares fell 4.7% during mid-day trading on Thursday . The company traded as low as $20.75 and last traded at $20.7850. 61,567 shares changed hands during trading, a decline of 97% from the average session volume of 2,049,186 shares. The stock had previously closed at $21.82.

More STAAR Surgical News

Here are the key news stories impacting STAAR Surgical this week:

• Positive Sentiment: STAAR entered a cooperation agreement with Broadwood Partners to restructure the board and governance — a move investors often view as likely to push for operational improvements or strategic alternatives that can boost shareholder value. Read More.
• Positive Sentiment: A major shareholder purchased $606,044.25 of STAA stock, signaling insider/large-holder confidence and providing direct buying support to the share price. Read More.
• Neutral Sentiment: The board elected Neal C. Bradsher as chair and restructured board committees as part of the governance changes — a procedural but important step that clarifies leadership of the newly reshaped board. Read More.
• Negative Sentiment: CEO Thomas Farrell is exiting the company as part of the shareholder/cooperation developments, creating near-term leadership uncertainty that could weigh on operations and sentiment. Read More.
• Negative Sentiment: STAAR rejected/terminated a potential Alcon buyout, removing an acquisition premium and leaving uncertainty about future strategic transactions — a key reason some investors are cautious. Read More.

Analyst Ratings Changes

A number of analysts have recently weighed in on STAA shares. Canaccord Genuity Group cut their price objective on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating on the stock in a research note on Thursday. BTIG Research reaffirmed a “neutral” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Morgan Stanley started coverage on STAAR Surgical in a research note on Friday. They issued an “underweight” rating and a $13.00 target price on the stock. Finally, Wells Fargo & Company raised their target price on STAAR Surgical from $28.00 to $30.75 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. Ten research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $20.68.

STAAR Surgical Stock Performance

The stock has a 50-day moving average price of $24.57 and a 200 day moving average price of $24.56. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -10.75 and a beta of 1.00.

Insider Activity at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 27,485 shares of STAAR Surgical stock in a transaction dated Friday, January 9th. The stock was acquired at an average cost of $22.05 per share, with a total value of $606,044.25. Following the purchase, the insider directly owned 15,453,629 shares in the company, valued at $340,752,519.45. This represents a 0.18% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased 1,934,138 shares of company stock valued at $50,485,791 in the last three months. 0.59% of the stock is owned by insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of large investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. acquired a new stake in STAAR Surgical in the 3rd quarter worth about $48,729,000. Magnetar Financial LLC acquired a new stake in shares of STAAR Surgical in the third quarter worth approximately $32,361,000. Broadwood Capital Inc. boosted its stake in shares of STAAR Surgical by 8.5% in the second quarter. Broadwood Capital Inc. now owns 13,519,491 shares of the medical instruments supplier’s stock worth $226,857,000 after acquiring an additional 1,064,227 shares during the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of STAAR Surgical during the third quarter worth approximately $24,535,000. Finally, Defender Capital LLC. acquired a new position in STAAR Surgical in the 4th quarter valued at $15,429,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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.