SG Americas Securities LLC lifted its position in STAAR Surgical Company (NASDAQ:STAA - Free Report) by 123.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 49,072 shares of the medical instruments supplier's stock after purchasing an additional 27,075 shares during the period. SG Americas Securities LLC owned about 0.10% of STAAR Surgical worth $865,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in STAA. KLP Kapitalforvaltning AS purchased a new stake in STAAR Surgical during the 4th quarter valued at $180,000. GAMMA Investing LLC boosted its holdings in shares of STAAR Surgical by 4,086.0% during the first quarter. GAMMA Investing LLC now owns 14,651 shares of the medical instruments supplier's stock worth $258,000 after purchasing an additional 14,301 shares during the period. Bridgefront Capital LLC grew its stake in shares of STAAR Surgical by 27.2% in the fourth quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier's stock worth $262,000 after purchasing an additional 2,306 shares during the last quarter. Quantbot Technologies LP purchased a new position in STAAR Surgical during the 4th quarter valued at about $278,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in STAAR Surgical during the 4th quarter valued at about $292,000. Institutional investors own 96.70% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently commented on STAA shares. Stephens reaffirmed an "equal weight" rating and issued a $17.00 price target on shares of STAAR Surgical in a research note on Tuesday, March 18th. Wells Fargo & Company began coverage on shares of STAAR Surgical in a research 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 research report on Wednesday, May 21st. Piper Sandler upgraded shares of STAAR Surgical to a "hold" rating in a report on Wednesday. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and set a $20.00 price objective on shares of STAAR Surgical in a research report on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $24.63.
View Our Latest Stock Analysis on STAAR Surgical
Insider Transactions at STAAR Surgical
In related news, major shareholder Broadwood Partners, L.P. purchased 3,620 shares of the stock in a transaction dated Thursday, March 27th. The stock was purchased at an average price of $17.48 per share, with a total value of $63,277.60. Following the transaction, the insider now directly owns 12,424,944 shares in the company, valued at $217,188,021.12. This trade represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 735,770 shares of company stock valued at $11,798,733 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.
STAAR Surgical Price Performance
NASDAQ:STAA traded down $0.51 during mid-day trading on Friday, hitting $16.34. 1,064,407 shares of the company's stock were exchanged, compared to its average volume of 853,978. The company has a market cap of $809.32 million, a PE ratio of -11.35 and a beta of 0.63. STAAR Surgical Company has a one year low of $13.50 and a one year high of $49.86. The business has a fifty day moving average price of $17.92 and a 200 day moving average price of $19.70.
STAAR Surgical declared that its Board of Directors has initiated a stock repurchase program on Friday, May 16th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the medical instruments supplier to purchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.
About STAAR Surgical
(
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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