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65,500 Shares in STAAR Surgical Company $STAA Purchased by Pinnacle Investment Management Ltd

STAAR Surgical logo with Medical background

Key Points

  • Pinnacle Investment Management Ltd has acquired 65,500 shares of STAAR Surgical Company, valued at approximately $1,155,000, making it the investor's 3rd largest position.
  • Several hedge funds, including US Bancorp DE and Brooklyn Investment Group, have significantly increased their stakes in STAAR Surgical in the first quarter of 2023.
  • STAAR Surgical's stock has been rated as a "hold" by multiple brokerages, with an average target price increase to $20.67 according to recent analyst reports.
  • Interested in STAAR Surgical? Here are five stocks we like better.

Pinnacle Investment Management Ltd purchased a new position in shares of STAAR Surgical Company (NASDAQ:STAA - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 65,500 shares of the medical instruments supplier's stock, valued at approximately $1,155,000. STAAR Surgical makes up 12.4% of Pinnacle Investment Management Ltd's investment portfolio, making the stock its 3rd largest position. Pinnacle Investment Management Ltd owned 0.13% of STAAR Surgical as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of STAAR Surgical during the 1st quarter worth about $190,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in STAAR Surgical by 11.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,347 shares of the medical instruments supplier's stock valued at $2,175,000 after acquiring an additional 12,841 shares in the last quarter. Caxton Associates LLP bought a new position in STAAR Surgical during the first quarter valued at approximately $1,051,000. Goldman Sachs Group Inc. raised its holdings in shares of STAAR Surgical by 33.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier's stock valued at $9,606,000 after purchasing an additional 136,390 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of STAAR Surgical by 211,284.0% during the 1st quarter. Jones Financial Companies Lllp now owns 158,538 shares of the medical instruments supplier's stock valued at $2,795,000 after purchasing an additional 158,463 shares in the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical Stock Performance

STAA traded up $0.02 during mid-day trading on Wednesday, reaching $27.25. The stock had a trading volume of 232,126 shares, compared to its average volume of 1,193,551. The firm's fifty day simple moving average is $23.97 and its two-hundred day simple moving average is $19.81. The stock has a market capitalization of $1.35 billion, a P/E ratio of -14.12 and a beta of 0.74. STAAR Surgical Company has a 52 week low of $13.50 and a 52 week high of $38.60.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on STAA shares. Canaccord Genuity Group raised their price target on shares of STAAR Surgical from $20.00 to $28.00 and gave the company a "hold" rating in a report on Wednesday, August 6th. Stifel Nicolaus set a $28.00 target price on STAAR Surgical and gave the company a "hold" rating in a report on Thursday, August 7th. Mizuho raised their price objective on STAAR Surgical from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Needham & Company LLC reissued a "hold" rating on shares of STAAR Surgical in a research note on Wednesday, May 21st. Finally, Piper Sandler raised shares of STAAR Surgical to a "hold" rating in a research report on Wednesday, June 18th. Ten investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $20.67.

Get Our Latest Stock Analysis on STAAR Surgical

STAAR Surgical Profile

(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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Institutional Ownership by Quarter for STAAR Surgical (NASDAQ:STAA)

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