STAAR Surgical (NASDAQ:STAA) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its stake in shares of STAAR Surgical (NASDAQ:STAA - Free Report) by 107.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,983 shares of the medical instruments supplier's stock after purchasing an additional 39,314 shares during the period. BNP Paribas Financial Markets owned approximately 0.15% of STAAR Surgical worth $1,846,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in STAAR Surgical during the 4th quarter worth approximately $180,000. Quantbot Technologies LP purchased a new stake in STAAR Surgical during the 4th quarter worth approximately $278,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of STAAR Surgical in the 4th quarter valued at $292,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of STAAR Surgical in the 4th quarter valued at $298,000. Finally, HighTower Advisors LLC boosted its holdings in shares of STAAR Surgical by 42.6% in the 4th quarter. HighTower Advisors LLC now owns 12,956 shares of the medical instruments supplier's stock valued at $315,000 after acquiring an additional 3,871 shares during the last quarter. Hedge funds and other institutional investors own 96.70% of the company's stock.

STAAR Surgical Stock Performance

Shares of STAA traded down $0.09 during trading hours on Friday, hitting $18.68. The stock had a trading volume of 689,190 shares, compared to its average volume of 825,596. The firm has a 50-day moving average price of $17.72 and a 200 day moving average price of $21.22. STAAR Surgical has a fifty-two week low of $13.50 and a fifty-two week high of $49.86. The firm has a market capitalization of $925.15 million, a price-to-earnings ratio of -45.56 and a beta of 0.65.

STAAR Surgical declared that its board has authorized a share buyback 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 typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of STAAR Surgical from $17.00 to $20.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Wells Fargo & Company assumed coverage on shares of STAAR Surgical in a report on Monday, April 21st. They issued an "equal weight" rating and a $17.00 price objective on the stock. Stephens reaffirmed an "equal weight" rating and issued a $17.00 price objective on shares of STAAR Surgical in a report on Tuesday, March 18th. Jefferies Financial Group downgraded shares of STAAR Surgical from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus dropped their price objective on shares of STAAR Surgical from $38.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, STAAR Surgical presently has an average rating of "Hold" and a consensus price target of $24.63.

Insider Activity at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. acquired 108,720 shares of STAAR Surgical stock in a transaction on Thursday, March 20th. The stock was bought at an average cost of $17.96 per share, for a total transaction of $1,952,611.20. Following the completion of the transaction, the insider now owns 12,182,995 shares of the company's stock, valued at approximately $218,806,590.20. The trade was a 0.90% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders bought a total of 1,446,433 shares of company stock worth $23,957,807 in the last three months. Company insiders own 1.00% of the company's stock.

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.