ORG Partners LLC acquired a new stake in shares of STAAR Surgical Company (NASDAQ:STAA - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 16,730 shares of the medical instruments supplier's stock, valued at approximately $294,000.
A number of other hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of STAAR Surgical by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,123 shares of the medical instruments supplier's stock worth $683,000 after purchasing an additional 1,044 shares during the last quarter. MetLife Investment Management LLC grew its holdings in 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 buying an additional 1,796 shares in the last quarter. Bridgefront Capital LLC increased its stake in STAAR Surgical by 27.2% in the 4th quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier's stock worth $262,000 after acquiring an additional 2,306 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of STAAR Surgical by 8.3% during the 4th quarter. Illinois Municipal Retirement Fund now owns 30,144 shares of the medical instruments supplier's stock worth $732,000 after acquiring an additional 2,318 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of STAAR Surgical by 6.9% during the 4th quarter. Deutsche Bank AG now owns 45,193 shares of the medical instruments supplier's stock worth $1,098,000 after acquiring an additional 2,932 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.
Insider Activity
In other news, major shareholder Broadwood Partners, L.P. acquired 34,296 shares of STAAR Surgical stock in a transaction that occurred on Tuesday, March 25th. The shares were acquired at an average price of $17.44 per share, with a total value of $598,122.24. Following the completion of the purchase, the insider now owns 12,319,691 shares of the company's stock, valued at approximately $214,855,411.04. This represents a 0.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 735,770 shares of company stock worth $11,798,733 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
STAA has been the topic of several recent research reports. Stephens restated an "equal weight" rating and set a $17.00 price target on shares of STAAR Surgical in a report on Tuesday, March 18th. Piper Sandler raised shares of STAAR Surgical to a "hold" rating in a research note on Wednesday. Wells Fargo & Company assumed coverage on shares of STAAR Surgical in a report on Monday, April 21st. They issued an "equal weight" rating and a $17.00 target price for the company. Needham & Company LLC reiterated a "hold" rating on shares of STAAR Surgical in a report on Wednesday, May 21st. Finally, Canaccord Genuity Group reissued a "hold" rating and issued a $20.00 price objective on shares of STAAR Surgical in a research report on Tuesday, May 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $24.63.
Read Our Latest Stock Analysis on STAA
STAAR Surgical Price Performance
Shares of STAA stock traded down $0.51 during mid-day trading on Friday, hitting $16.34. The stock had a trading volume of 1,064,407 shares, compared to its average volume of 853,978. The firm has a market cap of $809.32 million, a PE ratio of -11.35 and a beta of 0.63. The company's 50-day simple moving average is $17.92 and its 200-day simple moving average is $19.66. STAAR Surgical Company has a fifty-two week low of $13.50 and a fifty-two week high of $49.86.
STAAR Surgical announced that its Board of Directors has initiated a stock buyback plan on Friday, May 16th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the medical instruments supplier to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.
STAAR Surgical Profile
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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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