STAAR Surgical Company (NASDAQ:STAA) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in STAAR Surgical Company (NASDAQ:STAA - Free Report) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,123 shares of the medical instruments supplier's stock after selling 13,677 shares during the quarter. Victory Capital Management Inc. owned about 0.35% of STAAR Surgical worth $3,035,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. KLP Kapitalforvaltning AS purchased a new position in STAAR Surgical during the 4th quarter worth $180,000. GAMMA Investing LLC boosted its holdings in STAAR Surgical by 4,086.0% in the first quarter. GAMMA Investing LLC now owns 14,651 shares of the medical instruments supplier's stock worth $258,000 after acquiring an additional 14,301 shares in the last quarter. Bridgefront Capital LLC grew its stake in shares of STAAR Surgical by 27.2% during the fourth 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. Quantbot Technologies LP purchased a new stake in shares of STAAR Surgical during the fourth quarter worth about $278,000. Finally, ORG Partners LLC acquired a new position in shares of STAAR Surgical during the first quarter valued at about $294,000. 96.70% of the stock is owned by institutional investors and hedge funds.

STAAR Surgical Price Performance

Shares of STAAR Surgical stock opened at $19.20 on Monday. STAAR Surgical Company has a 1 year low of $13.50 and a 1 year high of $42.17. The stock has a market cap of $950.98 million, a PE ratio of -13.33 and a beta of 0.58. The firm has a fifty day moving average price of $17.59 and a 200 day moving average price of $18.42.

STAAR Surgical declared that its Board of Directors has initiated a stock buyback plan on Friday, May 16th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the medical instruments supplier to buy up to 3.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

STAA has been the subject of a number of recent analyst reports. Wells Fargo & Company started coverage on shares of STAAR Surgical in a research note on Monday, April 21st. They issued an "equal weight" rating and a $17.00 target price for the company. Mizuho raised 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. Piper Sandler raised shares of STAAR Surgical to a "hold" rating in a report on Wednesday, June 18th. Needham & Company LLC reissued a "hold" rating on shares of STAAR Surgical in a research report on Wednesday, May 21st. 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $18.00.

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.

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