Caxton Associates LLP Acquires Shares of 59,633 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 acquired a new stake in STAAR Surgical Company (NASDAQ:STAA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in STAAR Surgical by 33.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier's stock valued at $9,606,000 after buying an additional 136,390 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in STAAR Surgical by 211,284.0% during the first quarter. Jones Financial Companies Lllp now owns 158,538 shares of the medical instruments supplier's stock worth $2,795,000 after acquiring an additional 158,463 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of STAAR Surgical by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier's stock valued at $518,000 after acquiring an additional 1,267 shares during the period. Broadwood Capital Inc. raised its stake in STAAR Surgical by 14.8% in the 1st quarter. Broadwood Capital Inc. now owns 12,455,264 shares of the medical instruments supplier's stock valued at $219,586,000 after acquiring an additional 1,606,633 shares during the period. Finally, Palo Alto Investors LP boosted its holdings in shares of STAAR Surgical by 4.8% in the first quarter. Palo Alto Investors LP now owns 525,017 shares of the medical instruments supplier's stock worth $9,256,000 after acquiring an additional 24,242 shares during the period. Institutional investors own 96.70% of the company's stock.

STAAR Surgical Stock Down 1.4%

NASDAQ STAA traded down $0.38 during trading hours on Friday, hitting $27.70. 384,929 shares of the company were exchanged, compared to its average volume of 696,888. The stock has a market cap of $1.37 billion, a PE ratio of -14.35 and a beta of 0.74. The stock has a 50-day moving average price of $23.54 and a 200 day moving average price of $19.68. STAAR Surgical Company has a 52 week low of $13.50 and a 52 week high of $38.60.

STAAR Surgical declared that its board has approved a stock repurchase 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 reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

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

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.