Jones Financial Companies Lllp Raises Holdings in STAAR Surgical Company $STAA

Key Points

• Jones Financial Companies Lllp substantially increased its stake in STAAR Surgical, acquiring an additional 158,463 shares and raising its holdings by 211,284% during the first quarter.
• Several institutional investors have significantly boosted their investments in STAAR Surgical, including US Bancorp DE, which raised its holdings by 1,693%, and GAMMA Investing LLC, which lifted its stake by 4,086%.
• STAAR Surgical's Board of Directors has authorized a share buyback program worth $30 million, suggesting confidence in the stock's current valuation and overall financial health.

Jones Financial Companies Lllp boosted its position in shares of STAAR Surgical Company (NASDAQ:STAA - Free Report) by 211,284.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,538 shares of the medical instruments supplier's stock after buying an additional 158,463 shares during the period. Jones Financial Companies Lllp owned 0.32% of STAAR Surgical worth $2,795,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. US Bancorp DE grew its position in shares of STAAR Surgical by 1,693.0% in the first quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier's stock valued at $36,000 after purchasing an additional 1,930 shares in the last quarter. Brooklyn Investment Group grew its position in STAAR Surgical by 1,564.0% in the first quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier's stock worth $47,000 after acquiring an additional 2,518 shares during the period. EntryPoint Capital LLC purchased a new position in STAAR Surgical in the first quarter worth approximately $189,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in STAAR Surgical by 29.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,076 shares of the medical instruments supplier's stock worth $248,000 after acquiring an additional 3,217 shares during the period. Finally, GAMMA Investing LLC grew its position 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 during the period. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

STAAR Surgical Price Performance

Shares of NASDAQ STAA traded down $0.44 during mid-day trading on Tuesday, hitting $27.23. The company had a trading volume of 941,573 shares, compared to its average volume of 629,010. The company has a market capitalization of $1.35 billion, a PE ratio of -14.11 and a beta of 0.74. STAAR Surgical Company has a 1-year low of $13.50 and a 1-year high of $38.60. The business's 50-day simple moving average is $23.97 and its 200 day simple moving average is $19.81.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of STAAR Surgical in a research report on Wednesday, May 21st. Piper Sandler upgraded STAAR Surgical to a "hold" rating in a research report on Wednesday, June 18th. Stifel Nicolaus set a $28.00 price objective on STAAR Surgical and gave the stock a "hold" rating in a research report on Thursday, August 7th. Mizuho upped their price target on STAAR Surgical from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Finally, Canaccord Genuity Group upped their price target on STAAR Surgical from $20.00 to $28.00 and gave the stock a "hold" rating in a research note on Wednesday, August 6th. Ten equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $20.67.

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.