Ensign Peak Advisors Inc decreased its holdings in STAAR Surgical (NASDAQ:STAA - Free Report) by 41.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 310,247 shares of the medical instruments supplier's stock after selling 218,949 shares during the period. Ensign Peak Advisors Inc owned approximately 0.63% of STAAR Surgical worth $7,536,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in STAAR Surgical by 411.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier's stock worth $7,978,000 after acquiring an additional 172,779 shares during the last quarter. Defender Capital LLC. boosted its position in STAAR Surgical by 3.5% in the 4th quarter. Defender Capital LLC. now owns 701,567 shares of the medical instruments supplier's stock valued at $17,041,000 after buying an additional 23,950 shares during the period. KBC Group NV boosted its holdings in shares of STAAR Surgical by 5,700.9% in the 4th quarter. KBC Group NV now owns 96,585 shares of the medical instruments supplier's stock valued at $2,346,000 after buying an additional 94,920 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of STAAR Surgical in the fourth quarter worth about $923,000. Finally, Barclays PLC grew its position in shares of STAAR Surgical by 349.4% during the 3rd quarter. Barclays PLC now owns 91,707 shares of the medical instruments supplier's stock valued at $3,406,000 after acquiring an additional 71,301 shares during the period. 96.70% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on STAA shares. Piper Sandler reduced their price objective on shares of STAAR Surgical from $40.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. BTIG Research cut STAAR Surgical from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of STAAR Surgical in a research note on Thursday, February 27th. William Blair cut STAAR Surgical from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 12th. Finally, Stephens reissued an "equal weight" rating and issued a $17.00 price objective on shares of STAAR Surgical in a research note on Tuesday, March 18th. 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.com, the company currently has a consensus rating of "Hold" and an average price target of $24.63.
Check Out Our Latest Research Report on STAAR Surgical
Insider Activity at STAAR Surgical
In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 249,503 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $16.64 per share, for a total transaction of $4,151,729.92. Following the transaction, the insider now owns 11,953,198 shares of the company's stock, valued at $198,901,214.72. This represents a 2.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders acquired 1,446,433 shares of company stock worth $23,957,807. Corporate insiders own 1.00% of the company's stock.
STAAR Surgical Price Performance
STAA stock traded down $0.03 during midday trading on Monday, reaching $19.19. 109,526 shares of the company were exchanged, compared to its average volume of 817,873. The business has a 50-day moving average price of $17.60 and a two-hundred day moving average price of $21.47. STAAR Surgical has a one year low of $13.50 and a one year high of $49.86. The firm has a market capitalization of $950.60 million, a price-to-earnings ratio of -46.70 and a beta of 0.65.
STAAR Surgical declared that its Board of Directors has initiated a stock buyback plan on Friday, May 16th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.
About STAAR Surgical
(
Free Report)
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.
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