Bank of New York Mellon Corp Sells 15,021 Shares of STAAR Surgical Company (NASDAQ:STAA)

Bank of New York Mellon Corp lowered its holdings in STAAR Surgical Company (NASDAQ:STAA - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 300,524 shares of the medical instruments supplier's stock after selling 15,021 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of STAAR Surgical worth $5,298,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of STAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in STAAR Surgical by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,123 shares of the medical instruments supplier's stock worth $683,000 after acquiring an additional 1,044 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in STAAR Surgical by 6.3% during the 4th quarter. MetLife Investment Management LLC now owns 30,396 shares of the medical instruments supplier's stock worth $738,000 after acquiring an additional 1,796 shares during the last quarter. Bridgefront Capital LLC boosted its holdings in STAAR Surgical by 27.2% during the 4th quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier's stock worth $262,000 after acquiring an additional 2,306 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of STAAR Surgical by 6.9% in the 4th quarter. Deutsche Bank AG now owns 45,193 shares of the medical instruments supplier's stock worth $1,098,000 after buying an additional 2,932 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of STAAR Surgical by 9.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,613 shares of the medical instruments supplier's stock worth $866,000 after buying an additional 3,066 shares during the last quarter. Institutional investors and hedge funds own 96.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STAA. Piper Sandler raised shares of STAAR Surgical to a "hold" rating in a report on Wednesday, June 18th. Mizuho boosted their price target on shares of STAAR Surgical from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Needham & Company LLC reissued a "hold" rating on shares of STAAR Surgical in a report on Wednesday, May 21st. Canaccord Genuity Group reissued a "hold" rating and issued a $20.00 price target on shares of STAAR Surgical in a report on Tuesday, May 27th. Finally, Wells Fargo & Company began coverage on shares of STAAR Surgical in a report on Monday, April 21st. They issued an "equal weight" rating and a $17.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $18.00.

STAAR Surgical Stock Up 0.3%

STAAR Surgical stock traded up $0.05 during midday trading on Monday, reaching $19.25. The stock had a trading volume of 512,444 shares, compared to its average volume of 644,450. STAAR Surgical Company has a 12 month low of $13.50 and a 12 month high of $42.17. The firm's 50-day moving average price is $17.59 and its 200 day moving average price is $18.39. The firm has a market capitalization of $953.45 million, a PE ratio of -13.37 and a beta of 0.58.

STAAR Surgical announced that its Board of Directors has authorized a stock buyback plan on Friday, May 16th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are typically an indication 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.