EntryPoint Capital LLC Purchases New Stake in 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) during the first quarter, according to the company in its most recent Form 13F filing 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 have also added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC boosted its stake in shares of STAAR Surgical by 3.0% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 20,978 shares of the medical instruments supplier's stock worth $370,000 after buying an additional 603 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in STAAR Surgical by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,123 shares of the medical instruments supplier's stock valued at $683,000 after purchasing an additional 1,044 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of STAAR Surgical by 6.3% during the 4th quarter. MetLife Investment Management LLC now owns 30,396 shares of the medical instruments supplier's stock worth $738,000 after purchasing an additional 1,796 shares during the last quarter. US Bancorp DE boosted its holdings in shares of STAAR Surgical by 1,693.0% in the 1st quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier's stock valued at $36,000 after buying an additional 1,930 shares during the last quarter. Finally, Bridgefront Capital LLC grew its stake in shares of STAAR Surgical by 27.2% in the fourth quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier's stock valued at $262,000 after buying an additional 2,306 shares in the last quarter. Institutional investors own 96.70% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on STAA shares. Piper Sandler raised shares of STAAR Surgical to a "hold" rating in a research report on Wednesday, June 18th. Mizuho lifted their price target on 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 target price on STAAR Surgical and gave the stock a "hold" rating in a report on Thursday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of STAAR Surgical in a report on Wednesday, May 21st. Finally, Canaccord Genuity Group upped their price objective on shares of STAAR Surgical from $20.00 to $28.00 and gave the company a "hold" rating in a report on Wednesday, August 6th. Ten equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $20.67.

STAAR Surgical Stock Down 0.1%

Shares of STAAR Surgical stock traded down $0.04 during trading on Friday, reaching $27.36. The company's stock had a trading volume of 506,411 shares, compared to its average volume of 3,411,935. The business's 50-day moving average price is $21.43 and its 200-day moving average price is $18.90. STAAR Surgical Company has a 52 week low of $13.50 and a 52 week high of $38.60. The firm has a market cap of $1.36 billion, a PE ratio of -14.18 and a beta of 0.61.

STAAR Surgical declared that its Board of Directors has initiated a share buyback program on Friday, May 16th that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the medical instruments supplier to buy up to 3.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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.