STAAR Surgical Company $STAA Shares Purchased by Jones Financial Companies Lllp

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 raised its holdings in STAAR Surgical Company (NASDAQ:STAA - Free Report) by 211,284.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 158,538 shares of the medical instruments supplier's stock after buying an additional 158,463 shares during the quarter. Jones Financial Companies Lllp owned about 0.32% of STAAR Surgical worth $2,795,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE increased its holdings in shares of STAAR Surgical by 1,693.0% during the first quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier's stock valued at $36,000 after acquiring an additional 1,930 shares in the last quarter. Brooklyn Investment Group grew its position in STAAR Surgical by 1,564.0% during the 1st quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier's stock worth $47,000 after purchasing an additional 2,518 shares during the last quarter. EntryPoint Capital LLC acquired a new position in STAAR Surgical during the 1st quarter valued at approximately $189,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 buying an additional 3,217 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of STAAR Surgical by 4,086.0% during the first quarter. GAMMA Investing LLC now owns 14,651 shares of the medical instruments supplier's stock worth $258,000 after buying an additional 14,301 shares during the period. Institutional investors and hedge funds own 96.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group raised their target price on STAAR Surgical from $20.00 to $28.00 and gave the stock a "hold" rating in a research note on Wednesday, August 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of STAAR Surgical in a report on Wednesday, May 21st. Mizuho increased 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 upgraded shares of STAAR Surgical to a "hold" rating in a research note on Wednesday, June 18th. Finally, Stifel Nicolaus set a $28.00 price objective on shares of STAAR Surgical and gave the company a "hold" rating in a report on Thursday, August 7th. Ten analysts have rated the stock with a Hold rating, Based on data from MarketBeat, STAAR Surgical currently has an average rating of "Hold" and a consensus price target of $20.67.

STAAR Surgical Trading Down 0.1%

Shares of NASDAQ:STAA opened at $27.66 on Thursday. STAAR Surgical Company has a 12-month low of $13.50 and a 12-month high of $38.60. The business has a 50 day moving average of $23.14 and a two-hundred day moving average of $19.50. The company has a market capitalization of $1.37 billion, a PE ratio of -14.33 and a beta of 0.74.

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

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