STAAR Surgical (NASDAQ:STAA) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC grew its position in STAAR Surgical (NASDAQ:STAA - Free Report) by 316.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,771 shares of the medical instruments supplier's stock after acquiring an additional 65,912 shares during the quarter. Lazard Asset Management LLC owned 0.18% of STAAR Surgical worth $2,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new position in shares of STAAR Surgical during the 4th quarter valued at approximately $180,000. Bridgefront Capital LLC increased its position in shares of STAAR Surgical by 27.2% during the 4th quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier's stock valued at $262,000 after purchasing an additional 2,306 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of STAAR Surgical during the 4th quarter valued at approximately $278,000. Y Intercept Hong Kong Ltd bought a new position in shares of STAAR Surgical during the 4th quarter valued at approximately $292,000. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of STAAR Surgical during the 4th quarter valued at approximately $298,000. Institutional investors own 96.70% of the company's stock.

STAAR Surgical Price Performance

Shares of STAA stock traded down $0.79 during mid-day trading on Wednesday, hitting $18.45. The stock had a trading volume of 555,366 shares, compared to its average volume of 820,913. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $49.86. The firm has a market capitalization of $913.75 million, a P/E ratio of -45.00 and a beta of 0.65. The firm's 50-day moving average is $17.67 and its two-hundred day moving average is $21.39.

STAAR Surgical announced that its Board of Directors has authorized a share repurchase program on Friday, May 16th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the medical instruments supplier to repurchase up to 3.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STAA. Stifel Nicolaus cut their target price on STAAR Surgical from $38.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Piper Sandler dropped their price objective on STAAR Surgical from $40.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Wells Fargo & Company started coverage on STAAR Surgical in a report on Monday, April 21st. They set an "equal weight" rating and a $17.00 price objective for the company. Jefferies Financial Group cut STAAR Surgical from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Finally, Mizuho cut STAAR Surgical from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $45.00 to $17.00 in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $24.63.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. acquired 259,316 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $17.05 per share, for a total transaction of $4,421,337.80. Following the purchase, the insider now directly owns 11,548,753 shares of the company's stock, valued at $196,906,238.65. This trade represents a 2.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders bought 1,446,433 shares of company stock worth $23,957,807. 1.00% of the stock is currently owned by company insiders.

About STAAR Surgical

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.