ORG Partners LLC Acquires Shares of 16,730 STAAR Surgical Company (NASDAQ:STAA)

ORG Partners LLC acquired a new position in shares of STAAR Surgical Company (NASDAQ:STAA - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,730 shares of the medical instruments supplier's stock, valued at approximately $294,000.

Several other hedge funds and other institutional investors have also modified their holdings of STAA. Raymond James Financial Inc. acquired a new stake in shares of STAAR Surgical in the 4th quarter valued at $923,000. Hsbc Holdings PLC lifted its position in shares of STAAR Surgical by 21.3% in the fourth quarter. Hsbc Holdings PLC now owns 21,160 shares of the medical instruments supplier's stock worth $513,000 after buying an additional 3,714 shares during the last quarter. Integral Health Asset Management LLC boosted its stake in shares of STAAR Surgical by 100.0% during the 4th quarter. Integral Health Asset Management LLC now owns 100,000 shares of the medical instruments supplier's stock worth $2,429,000 after acquiring an additional 50,000 shares in the last quarter. Amundi increased its holdings in shares of STAAR Surgical by 174.7% during the 4th quarter. Amundi now owns 23,785 shares of the medical instruments supplier's stock valued at $550,000 after acquiring an additional 15,128 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of STAAR Surgical by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 444,290 shares of the medical instruments supplier's stock valued at $10,792,000 after acquiring an additional 18,168 shares during the last quarter. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 22,189 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average cost of $17.46 per share, for a total transaction of $387,419.94. Following the transaction, the insider now directly owns 12,455,264 shares in the company, valued at approximately $217,468,909.44. The trade was a 0.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders purchased 701,474 shares of company stock valued at $11,200,611. 1.00% of the stock is currently owned by company insiders.

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA traded up $0.50 during midday trading on Tuesday, reaching $17.18. 1,137,132 shares of the company's stock were exchanged, compared to its average volume of 856,368. The company's 50 day simple moving average is $17.91 and its two-hundred day simple moving average is $19.60. STAAR Surgical Company has a 12 month low of $13.50 and a 12 month high of $49.86. The firm has a market capitalization of $850.86 million, a PE ratio of -11.93 and a beta of 0.63.

STAAR Surgical declared that its Board of Directors has initiated a stock buyback program on Friday, May 16th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have commented on STAA shares. Needham & Company LLC reiterated a "hold" rating on shares of STAAR Surgical in a report on Wednesday, May 21st. Stephens reiterated an "equal weight" rating and issued a $17.00 target price on shares of STAAR Surgical in a research note on Tuesday, March 18th. Canaccord Genuity Group reissued a "hold" rating and set a $20.00 target price on shares of STAAR Surgical in a research report on Tuesday, May 27th. Piper Sandler upgraded STAAR Surgical to a "hold" rating in a research note on Wednesday, June 18th. Finally, Wells Fargo & Company began coverage on STAAR Surgical in a research note on Monday, April 21st. They set an "equal weight" rating and a $17.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $24.63.

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.