Sherbrooke Park Advisers LLC Invests $502,000 in STAAR Surgical (NASDAQ:STAA)

Sherbrooke Park Advisers LLC acquired a new position in shares of STAAR Surgical (NASDAQ:STAA - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,663 shares of the medical instruments supplier's stock, valued at approximately $502,000.

Several other large investors also recently made changes to their positions in the business. KLP Kapitalforvaltning AS acquired a new position in shares of STAAR Surgical during the fourth quarter worth $180,000. Bridgefront Capital LLC boosted its holdings in STAAR Surgical by 27.2% in the fourth quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier's stock valued at $262,000 after purchasing an additional 2,306 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of STAAR Surgical during the fourth quarter worth approximately $278,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of STAAR Surgical in the 4th quarter valued at about $292,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of STAAR Surgical in the 4th quarter valued at about $298,000. Institutional investors and hedge funds own 96.70% of the company's stock.

Insider Buying and Selling at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. acquired 249,503 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $16.64 per share, with a total value of $4,151,729.92. Following the completion of the acquisition, the insider now owns 11,953,198 shares of the company's stock, valued at $198,901,214.72. This trade represents a 2.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased a total of 1,446,433 shares of company stock valued at $23,957,807 in the last ninety days. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

STAA has been the subject of a number of research reports. William Blair downgraded shares of STAAR Surgical from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 12th. Jefferies Financial Group lowered shares of STAAR Surgical from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Wells Fargo & Company began coverage on STAAR Surgical in a research report on Monday, April 21st. They set an "equal weight" rating and a $17.00 price target on the stock. StockNews.com lowered STAAR Surgical from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Finally, Piper Sandler lowered their target price on STAAR Surgical from $40.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $24.63.

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA traded down $0.79 during midday trading on Wednesday, reaching $18.45. The company had a trading volume of 555,366 shares, compared to its average volume of 822,672. The company has a fifty day simple moving average of $17.67 and a two-hundred day simple moving average of $21.39. The firm has a market cap of $913.75 million, a price-to-earnings ratio of -45.00 and a beta of 0.65. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $49.86.

STAAR Surgical announced that its Board of Directors has initiated a share repurchase program on Friday, May 16th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the medical instruments supplier to buy up to 3.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

STAAR Surgical 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.