KBC Group NV Has $49,000 Holdings in STAAR Surgical Company (NASDAQ:STAA)

KBC Group NV reduced its position in STAAR Surgical Company (NASDAQ:STAA - Free Report) by 97.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,753 shares of the medical instruments supplier's stock after selling 93,832 shares during the quarter. KBC Group NV's holdings in STAAR Surgical were worth $49,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hedges Asset Management LLC acquired a new stake in STAAR Surgical in the first quarter worth approximately $353,000. ORG Partners LLC acquired a new stake in STAAR Surgical in the first quarter worth approximately $294,000. Exchange Traded Concepts LLC lifted its position in STAAR Surgical by 25.3% in the first quarter. Exchange Traded Concepts LLC now owns 45,568 shares of the medical instruments supplier's stock worth $803,000 after purchasing an additional 9,194 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in STAAR Surgical by 75.4% in 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 during the period. Finally, SG Americas Securities LLC lifted its position in STAAR Surgical by 123.1% in the first quarter. SG Americas Securities LLC now owns 49,072 shares of the medical instruments supplier's stock worth $865,000 after purchasing an additional 27,075 shares during the period. 96.70% of the stock is owned by institutional investors.

STAAR Surgical Stock Performance

Shares of NASDAQ STAA traded up $0.23 during mid-day trading on Wednesday, reaching $17.14. The company had a trading volume of 632,135 shares, compared to its average volume of 852,896. STAAR Surgical Company has a twelve month low of $13.50 and a twelve month high of $49.86. The stock has a market capitalization of $848.94 million, a PE ratio of -11.90 and a beta of 0.58. The stock's 50 day moving average is $17.87 and its 200-day moving average is $19.03.

STAAR Surgical declared that its board has approved a stock buyback program 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 repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STAA. Canaccord Genuity Group restated a "hold" rating and issued a $20.00 target price on shares of STAAR Surgical in a research report on Tuesday, May 27th. Stephens reiterated an "equal weight" rating and set a $17.00 price objective on shares of STAAR Surgical in a research report on Tuesday, March 18th. Wells Fargo & Company assumed coverage on STAAR Surgical in a research report on Monday, April 21st. They set an "equal weight" rating and a $17.00 price objective for the company. Piper Sandler upgraded STAAR Surgical to a "hold" rating in a research report on Wednesday, June 18th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of STAAR Surgical in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $24.63.

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.