Jane Street Group LLC cut its stake in STAAR Surgical (NASDAQ:STAA - Free Report) by 86.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,614 shares of the medical instruments supplier's stock after selling 71,466 shares during the quarter. Jane Street Group LLC's holdings in STAAR Surgical were worth $282,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Freestone Grove Partners LP acquired a new stake in shares of STAAR Surgical during the 4th quarter worth about $1,335,000. Nebula Research & Development LLC boosted its position in shares of STAAR Surgical by 19.0% during the fourth quarter. Nebula Research & Development LLC now owns 23,210 shares of the medical instruments supplier's stock worth $564,000 after buying an additional 3,700 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of STAAR Surgical by 9.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,613 shares of the medical instruments supplier's stock valued at $866,000 after buying an additional 3,066 shares during the period. Dark Forest Capital Management LP lifted its stake in STAAR Surgical by 164.3% during the 4th quarter. Dark Forest Capital Management LP now owns 25,524 shares of the medical instruments supplier's stock worth $620,000 after acquiring an additional 15,866 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in STAAR Surgical by 21.3% in the 4th quarter. Hsbc Holdings PLC now owns 21,160 shares of the medical instruments supplier's stock valued at $513,000 after acquiring an additional 3,714 shares in the last quarter. Hedge funds and other institutional investors own 96.70% of the company's stock.
STAAR Surgical Trading Up 4.4%
Shares of STAAR Surgical stock traded up $0.73 on Thursday, reaching $17.40. 1,238,210 shares of the stock were exchanged, compared to its average volume of 842,525. The firm has a market capitalization of $861.75 million, a PE ratio of -42.44 and a beta of 0.63. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $49.86. The business has a fifty day moving average price of $17.73 and a two-hundred day moving average price of $20.59.
STAAR Surgical declared that its board has authorized a share buyback program on Friday, May 16th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the medical instruments supplier to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.
Analyst Upgrades and Downgrades
STAA has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of STAAR Surgical in a research report on Wednesday, May 21st. Mizuho cut shares of STAAR Surgical from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $45.00 to $17.00 in a report on Wednesday, February 12th. Stephens reissued an "equal weight" rating and issued a $17.00 target price on shares of STAAR Surgical in a report on Tuesday, March 18th. Stifel Nicolaus decreased their price target on shares of STAAR Surgical from $38.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Finally, William Blair cut shares of STAAR Surgical from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $24.63.
Get Our Latest Report on STAA
Insider Buying and Selling
In other news, major shareholder Broadwood Partners, L.P. purchased 497,631 shares of the company's stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $15.91 per share, for a total transaction of $7,917,309.21. Following the completion of the transaction, the insider now directly owns 13,194,210 shares in the company, valued at $209,919,881.10. This represents a 3.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have purchased 937,614 shares of company stock valued at $15,384,739. Corporate insiders own 1.00% of the company's stock.
About STAAR Surgical
(
Free Report)
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.
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