Sherbrooke Park Advisers LLC Acquires New Holdings in STAAR Surgical (NASDAQ:STAA)

Sherbrooke Park Advisers LLC purchased a new position in shares of STAAR Surgical (NASDAQ:STAA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,663 shares of the medical instruments supplier's stock, valued at approximately $502,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Defender Capital LLC. lifted its holdings in STAAR Surgical by 3.5% during the 4th quarter. Defender Capital LLC. now owns 701,567 shares of the medical instruments supplier's stock valued at $17,041,000 after purchasing an additional 23,950 shares during the last quarter. KBC Group NV increased its holdings in shares of STAAR Surgical by 5,700.9% during the fourth quarter. KBC Group NV now owns 96,585 shares of the medical instruments supplier's stock worth $2,346,000 after buying an additional 94,920 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of STAAR Surgical in the fourth quarter valued at approximately $923,000. Barclays PLC grew its position in STAAR Surgical by 349.4% during the 3rd quarter. Barclays PLC now owns 91,707 shares of the medical instruments supplier's stock worth $3,406,000 after acquiring an additional 71,301 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in STAAR Surgical by 21.3% during the 4th quarter. Hsbc Holdings PLC now owns 21,160 shares of the medical instruments supplier's stock worth $513,000 after acquiring an additional 3,714 shares during the last quarter. Institutional investors own 96.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on STAA. William Blair lowered STAAR Surgical from an "outperform" rating to a "market perform" rating in a research note on Wednesday, February 12th. BTIG Research downgraded shares of STAAR Surgical from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of STAAR Surgical from $40.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Jefferies Financial Group cut shares of STAAR Surgical from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Finally, Stephens reiterated an "equal weight" rating and set a $17.00 target price on shares of STAAR Surgical in a research report on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $24.63.

Insider Buying and Selling at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 108,720 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $17.96 per share, for a total transaction of $1,952,611.20. Following the completion of the acquisition, the insider now owns 12,182,995 shares in the company, valued at $218,806,590.20. This trade represents a 0.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have purchased 1,446,433 shares of company stock valued at $23,957,807. 1.00% of the stock is currently owned by company insiders.

STAAR Surgical Trading Down 3.3%

Shares of STAA traded down $0.62 on Friday, reaching $18.15. 106,997 shares of the company's stock were exchanged, compared to its average volume of 821,411. The business has a 50 day moving average price of $17.72 and a two-hundred day moving average price of $21.30. STAAR Surgical has a 12 month low of $13.50 and a 12 month high of $49.86. The stock has a market capitalization of $898.90 million, a P/E ratio of -44.22 and a beta of 0.65.

STAAR Surgical announced that its board has approved a share buyback plan on Friday, May 16th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the medical instruments supplier to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are 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.