XTX Topco Ltd Invests $561,000 in STAAR Surgical Company (NASDAQ:STAA)

XTX Topco Ltd acquired a new position in shares of STAAR Surgical Company (NASDAQ:STAA - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 31,835 shares of the medical instruments supplier's stock, valued at approximately $561,000. XTX Topco Ltd owned approximately 0.06% of STAAR Surgical as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in STAAR Surgical by 75.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,234 shares of the medical instruments supplier's stock worth $374,000 after purchasing an additional 9,125 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of STAAR Surgical in the 4th quarter valued at $923,000. Principal Financial Group Inc. grew its position in shares of STAAR Surgical by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 300,204 shares of the medical instruments supplier's stock valued at $5,293,000 after buying an additional 9,451 shares during the last quarter. Hsbc Holdings PLC raised its stake in STAAR Surgical by 21.3% during the 4th quarter. Hsbc Holdings PLC now owns 21,160 shares of the medical instruments supplier's stock worth $513,000 after acquiring an additional 3,714 shares in the last quarter. Finally, Integral Health Asset Management LLC lifted its position in STAAR Surgical by 100.0% in the fourth quarter. Integral Health Asset Management LLC now owns 100,000 shares of the medical instruments supplier's stock valued at $2,429,000 after acquiring an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 96.70% of the company's stock.

Analyst Upgrades and Downgrades

STAA has been the topic of several research reports. Wells Fargo & Company began coverage on STAAR Surgical in a report on Monday, April 21st. They set an "equal weight" rating and a $17.00 price objective on the stock. Needham & Company LLC restated a "hold" rating on shares of STAAR Surgical in a research note on Wednesday, May 21st. Mizuho boosted their price objective on STAAR Surgical from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Piper Sandler raised STAAR Surgical to a "hold" rating in a report on Wednesday, June 18th. Finally, Stifel Nicolaus set a $28.00 target price on shares of STAAR Surgical and gave the stock a "hold" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $20.67.

STAAR Surgical Price Performance

Shares of STAA stock traded up $0.31 during midday trading on Friday, hitting $27.26. The company had a trading volume of 2,412,737 shares, compared to its average volume of 1,255,319. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -14.12 and a beta of 0.61. The company's 50 day simple moving average is $18.04 and its 200 day simple moving average is $18.41. STAAR Surgical Company has a 52-week low of $13.50 and a 52-week high of $40.81.

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

STAAR Surgical 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.