STAAR Surgical Company (NASDAQ:STAA) is Yunqi Capital Ltd's Largest Position

Yunqi Capital Ltd lifted its stake in STAAR Surgical Company (NASDAQ:STAA - Free Report) by 152.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,937,589 shares of the medical instruments supplier's stock after buying an additional 1,170,176 shares during the period. STAAR Surgical makes up 33.6% of Yunqi Capital Ltd's investment portfolio, making the stock its largest holding. Yunqi Capital Ltd owned about 3.93% of STAAR Surgical worth $34,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in STAAR Surgical by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 444,290 shares of the medical instruments supplier's stock worth $10,792,000 after purchasing an additional 18,168 shares during the period. Raymond James Financial Inc. acquired a new stake in STAAR Surgical during the 4th quarter worth $923,000. Edgestream Partners L.P. acquired a new stake in STAAR Surgical during the 4th quarter worth $1,152,000. Amundi boosted its stake in STAAR Surgical by 174.7% during the 4th quarter. Amundi now owns 23,785 shares of the medical instruments supplier's stock worth $550,000 after purchasing an additional 15,128 shares during the period. Finally, Lane Generational LLC acquired a new stake in STAAR Surgical during the 4th quarter worth $1,441,000. 96.70% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical Stock Down 2.4%

Shares of NASDAQ STAA traded down $0.43 during midday trading on Friday, hitting $17.38. The company had a trading volume of 372,893 shares, compared to its average volume of 846,288. STAAR Surgical Company has a twelve month low of $13.50 and a twelve month high of $48.00. The business has a 50-day simple moving average of $17.81 and a two-hundred day simple moving average of $18.92. The firm has a market capitalization of $860.83 million, a price-to-earnings ratio of -12.07 and a beta of 0.58.

STAAR Surgical declared that its board has authorized a stock buyback plan on Friday, May 16th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the medical instruments supplier to repurchase up to 3.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of STAAR Surgical in a research note on Monday, April 21st. They set an "equal weight" rating and a $17.00 price target for the company. Piper Sandler upgraded shares of STAAR Surgical to a "hold" rating in a research note on Wednesday, June 18th. Needham & Company LLC reiterated a "hold" rating on shares of STAAR Surgical in a research note on Wednesday, May 21st. Stephens restated an "equal weight" rating and issued a $17.00 target price on shares of STAAR Surgical in a research note on Tuesday, March 18th. Finally, Canaccord Genuity Group restated a "hold" rating and issued a $20.00 target price on shares of STAAR Surgical in a research note on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, STAAR Surgical presently has an average rating of "Hold" and an average target price of $24.63.

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.