Caxton Associates LLP Takes $1.05 Million Position in STAAR Surgical Company $STAA

Key Points

• Caxton Associates LLP recently acquired 59,633 shares of STAAR Surgical Company, valued at approximately $1,051,000, increasing its stake to about 0.12% of the company.
• The company has announced a $30 million stock buyback program signifying leadership's belief that its stock may be undervalued.
• Institutional investors and hedge funds now hold 96.70% of STAAR Surgical's stock, indicating significant institutional interest in the company.

Caxton Associates LLP bought a new position in STAAR Surgical Company (NASDAQ:STAA - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 59,633 shares of the medical instruments supplier's stock, valued at approximately $1,051,000. Caxton Associates LLP owned 0.12% of STAAR Surgical at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in STAA. US Bancorp DE increased its position in STAAR Surgical by 1,693.0% during 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 in the last quarter. Brooklyn Investment Group grew its holdings in 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 worth $47,000 after acquiring an additional 2,518 shares during the period. EntryPoint Capital LLC acquired a new stake in STAAR Surgical during the first quarter worth about $189,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 worth $248,000 after acquiring an additional 3,217 shares during the period. Finally, GAMMA Investing LLC boosted its position in 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 worth $258,000 after purchasing an additional 14,301 shares in the last quarter. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on STAA. Needham & Company LLC restated a "hold" rating on shares of STAAR Surgical in a research report on Wednesday, May 21st. Canaccord Genuity Group lifted their price objective on STAAR Surgical from $20.00 to $28.00 and gave the company a "hold" rating in a research note on Wednesday, August 6th. Mizuho lifted their target price on STAAR Surgical from $17.00 to $18.00 and gave the company a "neutral" rating in a report 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 STAAR Surgical and gave the company a "hold" rating in a report on Thursday, August 7th. Ten equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, STAAR Surgical currently has an average rating of "Hold" and an average price target of $20.67.

STAAR Surgical Stock Down 0.1%

STAA stock traded down $0.03 during midday trading on Tuesday, reaching $27.64. The company had a trading volume of 177,042 shares, compared to its average volume of 1,194,543. The stock has a 50 day moving average price of $23.76 and a 200 day moving average price of $19.76. The firm has a market capitalization of $1.37 billion, a PE ratio of -14.32 and a beta of 0.74. STAAR Surgical Company has a fifty-two week low of $13.50 and a fifty-two week high of $38.60.

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.