EntryPoint Capital LLC Purchases Shares of 10,735 STAAR Surgical Company $STAA

Key Points

• EntryPoint Capital LLC acquired 10,735 shares of STAAR Surgical, valued at approximately $189,000, as part of its new investment position in the company in the first quarter.
• STAAR Surgical plans to buy back up to $30 million worth of its outstanding shares, indicating the board's belief that the stock may be undervalued.
• Institutional investors control 96.70% of STAAR Surgical's stock, reflecting significant investment interest in the company.

EntryPoint Capital LLC acquired a new position in STAAR Surgical Company (NASDAQ:STAA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,735 shares of the medical instruments supplier's stock, valued at approximately $189,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE boosted its holdings in shares of STAAR Surgical by 1,693.0% during the first quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier's stock valued at $36,000 after acquiring an additional 1,930 shares during the period. Brooklyn Investment Group boosted its holdings in shares of STAAR Surgical by 1,564.0% during the first quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier's stock valued at $47,000 after acquiring an additional 2,518 shares during the period. Bridgefront Capital LLC boosted its holdings in shares of STAAR Surgical by 27.2% during the fourth quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier's stock valued at $262,000 after acquiring an additional 2,306 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of STAAR Surgical by 29.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,076 shares of the medical instruments supplier's stock valued at $248,000 after acquiring an additional 3,217 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of STAAR Surgical by 4,086.0% during the first quarter. GAMMA Investing LLC now owns 14,651 shares of the medical instruments supplier's stock valued at $258,000 after acquiring an additional 14,301 shares during the period. Institutional investors and hedge funds own 96.70% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on STAA shares. Piper Sandler raised shares of STAAR Surgical to a "hold" rating in a report on Wednesday, June 18th. Mizuho upped their price objective on shares of STAAR Surgical from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Stifel Nicolaus set a $28.00 price target on shares of STAAR Surgical and gave the stock a "hold" rating in a research report on Thursday, August 7th. Needham & Company LLC reiterated a "hold" rating on shares of STAAR Surgical in a research report on Wednesday, May 21st. Finally, Canaccord Genuity Group boosted their price target on shares of STAAR Surgical from $20.00 to $28.00 and gave the stock a "hold" rating in a research report on Wednesday, August 6th. Ten analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $20.67.

STAAR Surgical Stock Up 0.1%

Shares of STAA traded up $0.04 during trading hours on Friday, reaching $27.44. The company's stock had a trading volume of 211,273 shares, compared to its average volume of 1,233,621. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -14.22 and a beta of 0.61. STAAR Surgical Company has a 1-year low of $13.50 and a 1-year high of $38.60. The company has a 50 day moving average of $21.21 and a two-hundred day moving average of $18.84.

STAAR Surgical announced that its Board of Directors has approved a stock buyback plan on Friday, May 16th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the medical instruments supplier to buy up to 3.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.