Charles Schwab Investment Management Inc. Has $7.39 Million Stock Holdings in STAAR Surgical Company $STAA

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in STAAR Surgical by 5.6%, now owning 419,350 shares valued at approximately $7.39 million.
• US Bancorp DE significantly increased its position in STAAR Surgical by 1,693.0%, acquiring 2,044 shares worth $36,000.
• STAAR Surgical's board has authorized a $30 million share repurchase plan, which indicates management's belief that the shares are undervalued.

Charles Schwab Investment Management Inc. cut its stake in shares of STAAR Surgical Company (NASDAQ:STAA - Free Report) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 419,350 shares of the medical instruments supplier's stock after selling 24,940 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.85% of STAAR Surgical worth $7,393,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in shares of STAAR Surgical by 27.2% during the fourth quarter. Wells Fargo & Company MN now owns 26,081 shares of the medical instruments supplier's stock worth $634,000 after acquiring an additional 5,572 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of STAAR Surgical in the 4th quarter valued at about $923,000. Barclays PLC boosted its position in STAAR Surgical by 5.5% in the 4th quarter. Barclays PLC now owns 96,769 shares of the medical instruments supplier's stock worth $2,351,000 after purchasing an additional 5,062 shares in the last quarter. Dimensional Fund Advisors LP grew its position in STAAR Surgical by 25.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 853,370 shares of the medical instruments supplier's stock valued at $20,728,000 after buying an additional 171,046 shares during the period. Finally, MetLife Investment Management LLC grew 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 valued at $738,000 after acquiring an additional 1,796 shares during the period. 96.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on STAA shares. Piper Sandler upgraded shares of STAAR Surgical to a "hold" rating in a research report on Wednesday, June 18th. Needham & Company LLC restated 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 research report on Thursday, August 7th. Canaccord Genuity Group lifted their target price on STAAR Surgical from $20.00 to $28.00 and gave the company a "hold" rating in a report on Wednesday, August 6th. Finally, Mizuho boosted their target price on STAAR Surgical from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.67.

STAAR Surgical Stock Down 0.1%

Shares of NASDAQ STAA traded down $0.04 during midday trading on Friday, hitting $27.36. The stock had a trading volume of 506,411 shares, compared to its average volume of 3,411,935. STAAR Surgical Company has a 1-year low of $13.50 and a 1-year high of $38.60. The company has a fifty day moving average price of $21.43 and a 200 day moving average price of $18.88. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -14.18 and a beta of 0.61.

STAAR Surgical declared that its Board of Directors has approved a share repurchase plan 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 purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are 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.