Generali Investments Towarzystwo Funduszy Inwestycyjnych Has $62,000 Holdings in STAAR Surgical Company (NASDAQ:STAA)

Key Points

• Generali Investments Towarzystwo Funduszy Inwestycyjnych significantly reduced its stake in STAAR Surgical Company by 91.1%, selling 36,000 shares to hold just 3,500 shares, valued at $62,000.
• Institutional investors now own 96.70% of STAAR Surgical's stock, with notable increases from other funds, including a 1,693.0% rise in holdings by US Bancorp DE in the first quarter.
• STAAR Surgical has initiated a $30 million share repurchase program, indicating the board believes its shares are undervalued, while analysts’ consensus rating remains a "Hold" with a price target of $18.00.

Generali Investments Towarzystwo Funduszy Inwestycyjnych reduced its holdings in STAAR Surgical Company (NASDAQ:STAA - Free Report) by 91.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,500 shares of the medical instruments supplier's stock after selling 36,000 shares during the quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings in STAAR Surgical were worth $62,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. bought a new position in shares of STAAR Surgical in the fourth quarter worth about $36,411,000. Yunqi Capital Ltd increased its stake in shares of STAAR Surgical by 152.5% in the first quarter. Yunqi Capital Ltd now owns 1,937,589 shares of the medical instruments supplier's stock worth $34,160,000 after purchasing an additional 1,170,176 shares during the period. Vanguard Group Inc. increased its stake in shares of STAAR Surgical by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier's stock worth $142,232,000 after purchasing an additional 319,441 shares during the period. Jupiter Asset Management Ltd. increased its stake in shares of STAAR Surgical by 50.1% in the first quarter. Jupiter Asset Management Ltd. now owns 566,079 shares of the medical instruments supplier's stock worth $9,980,000 after purchasing an additional 188,830 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of STAAR Surgical by 25.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 853,370 shares of the medical instruments supplier's stock worth $20,728,000 after purchasing an additional 171,046 shares during the period. 96.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on STAA. Wells Fargo & Company initiated coverage on STAAR Surgical in a research note on Monday, April 21st. They issued an "equal weight" rating and a $17.00 price objective on the stock. Piper Sandler raised STAAR Surgical to a "hold" rating in a report on Wednesday, June 18th. Mizuho upped their price objective on 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 research note on Wednesday, May 21st. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and set a $20.00 price objective on shares of STAAR Surgical in a research note on Tuesday, May 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, STAAR Surgical has an average rating of "Hold" and a consensus price target of $18.00.

STAAR Surgical Trading Up 45.0%

Shares of NASDAQ:STAA traded up $8.32 during trading on Tuesday, reaching $26.81. 33,733,577 shares of the stock were exchanged, compared to its average volume of 1,150,011. STAAR Surgical Company has a 12 month low of $13.50 and a 12 month high of $41.00. The stock has a 50-day moving average price of $17.53 and a 200-day moving average price of $18.26. The firm has a market cap of $1.33 billion, a PE ratio of -18.62 and a beta of 0.61.

STAAR Surgical declared that its Board of Directors has initiated a stock repurchase program on Friday, May 16th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the medical instruments supplier to purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board 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.