Quantbot Technologies LP Purchases 81,437 Shares of STAAR Surgical Company $STAA

Key Points

• Quantbot Technologies LP significantly increased its holdings in STAAR Surgical Company by 711.5% during the first quarter, now owning approximately 92,883 shares valued at $1.64 million.
• Several hedge funds, including LPL Financial LLC and Wells Fargo & Company, also raised their stakes in STAAR Surgical, indicating strong institutional interest, which now totals 96.70% ownership in the company.
• Analysts have a consensus rating of "Hold" for STAAR Surgical, with a price target currently set at $20.67, despite various adjustments to price objectives by different brokerages.

Quantbot Technologies LP lifted its position in shares of STAAR Surgical Company (NASDAQ:STAA - Free Report) by 711.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 92,883 shares of the medical instruments supplier's stock after acquiring an additional 81,437 shares during the quarter. Quantbot Technologies LP owned approximately 0.19% of STAAR Surgical worth $1,638,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of STAA. US Bancorp DE grew its position in shares of STAAR Surgical by 1,693.0% in the 1st quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier's stock worth $36,000 after buying an additional 1,930 shares during the last quarter. Brooklyn Investment Group raised its position in STAAR Surgical by 1,564.0% during the first quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier's stock valued at $47,000 after purchasing an additional 2,518 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in STAAR Surgical by 29.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,076 shares of the medical instruments supplier's stock worth $248,000 after purchasing an additional 3,217 shares in the last quarter. GAMMA Investing LLC raised its stake in STAAR Surgical by 4,086.0% in the 1st quarter. GAMMA Investing LLC now owns 14,651 shares of the medical instruments supplier's stock worth $258,000 after acquiring an additional 14,301 shares during the last quarter. Finally, Bridgefront Capital LLC grew 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 acquiring an additional 2,306 shares during the period. Hedge funds and other institutional investors own 96.70% of the company's stock.

Analysts Set New Price Targets

STAA has been the subject of several research analyst reports. Piper Sandler upgraded shares of STAAR Surgical to a "hold" rating in a research note on Wednesday, June 18th. Canaccord Genuity Group lifted their target price on shares of STAAR Surgical from $20.00 to $28.00 and gave the stock a "hold" rating in a research note on Wednesday, August 6th. Stifel Nicolaus set a $28.00 target price on STAAR Surgical and gave the stock a "hold" rating in a research report on Thursday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of STAAR Surgical in a research report on Wednesday, May 21st. Finally, Mizuho upped their target price on shares of STAAR Surgical from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Ten research analysts have rated the stock with a Hold rating, According to MarketBeat, STAAR Surgical currently has an average rating of "Hold" and a consensus price target of $20.67.

STAAR Surgical Stock Down 0.0%

STAAR Surgical stock traded down $0.01 during midday trading on Wednesday, hitting $27.47. 199,376 shares of the stock were exchanged, compared to its average volume of 1,239,638. STAAR Surgical Company has a 52 week low of $13.50 and a 52 week high of $38.60. The company has a fifty day simple moving average of $20.78 and a two-hundred day simple moving average of $18.75. The stock has a market capitalization of $1.36 billion, a PE ratio of -14.23 and a beta of 0.61.

STAAR Surgical announced that its board has initiated a stock repurchase plan on Friday, May 16th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the medical instruments supplier to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

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.