Freestone Grove Partners LP Invests $1.34 Million in STAAR Surgical (NASDAQ:STAA)

Freestone Grove Partners LP bought a new stake in STAAR Surgical (NASDAQ:STAA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 54,960 shares of the medical instruments supplier's stock, valued at approximately $1,335,000. Freestone Grove Partners LP owned about 0.11% of STAAR Surgical at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in shares of STAAR Surgical during the 4th quarter worth approximately $180,000. Quantbot Technologies LP purchased a new position in shares of STAAR Surgical during the fourth quarter worth $278,000. Y Intercept Hong Kong Ltd acquired a new position in shares of STAAR Surgical in the 4th quarter valued at about $292,000. Counterpoint Mutual Funds LLC acquired a new position in STAAR Surgical in the fourth quarter valued at approximately $298,000. Finally, HighTower Advisors LLC boosted its holdings in STAAR Surgical by 42.6% during the fourth quarter. HighTower Advisors LLC now owns 12,956 shares of the medical instruments supplier's stock worth $315,000 after buying an additional 3,871 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on STAA shares. Needham & Company LLC reissued a "hold" rating on shares of STAAR Surgical in a report on Thursday, February 27th. Mizuho downgraded shares of STAAR Surgical from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $45.00 to $17.00 in a report on Wednesday, February 12th. William Blair downgraded STAAR Surgical from an "outperform" rating to a "market perform" rating in a research note on Wednesday, February 12th. Canaccord Genuity Group dropped their price objective on shares of STAAR Surgical from $28.00 to $17.00 and set a "hold" rating for the company in a report on Thursday, February 13th. Finally, BTIG Research lowered shares of STAAR Surgical from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, STAAR Surgical presently has a consensus rating of "Hold" and an average target price of $24.25.

STAAR Surgical Stock Down 1.8 %

NASDAQ:STAA traded down $0.34 on Tuesday, reaching $18.64. 863,601 shares of the company's stock were exchanged, compared to its average volume of 797,617. STAAR Surgical has a 52-week low of $13.50 and a 52-week high of $49.86. The business has a fifty day moving average of $17.42 and a 200-day moving average of $22.17. The firm has a market capitalization of $923.16 million, a price-to-earnings ratio of -45.46 and a beta of 0.65.

Insiders Place Their Bets

In other news, major shareholder Broadwood Partners, L.P. purchased 8,200 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average price of $15.08 per share, for a total transaction of $123,656.00. Following the completion of the purchase, the insider now directly owns 13,518,591 shares of the company's stock, valued at $203,860,352.28. The trade was a 0.06 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired a total of 1,742,581 shares of company stock worth $28,407,543 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

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.