Bank of America Corp DE decreased its holdings in shares of STAAR Surgical (NASDAQ:STAA - Free Report) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 439,480 shares of the medical instruments supplier's stock after selling 52,467 shares during the period. Bank of America Corp DE owned 0.89% of STAAR Surgical worth $10,675,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in STAAR Surgical by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier's stock valued at $142,232,000 after acquiring an additional 319,441 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of STAAR Surgical in the fourth quarter worth $36,411,000. Dimensional Fund Advisors LP lifted its stake in STAAR Surgical by 25.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 853,370 shares of the medical instruments supplier's stock valued at $20,728,000 after acquiring an additional 171,046 shares during the period. Yunqi Capital Ltd lifted its position in STAAR Surgical by 48.9% during the fourth quarter. Yunqi Capital Ltd now owns 767,413 shares of the medical instruments supplier's stock valued at $18,640,000 after purchasing an additional 252,113 shares during the period. Finally, Defender Capital LLC. boosted its stake in shares of STAAR Surgical by 3.5% in the 4th quarter. Defender Capital LLC. now owns 701,567 shares of the medical instruments supplier's stock worth $17,041,000 after buying an additional 23,950 shares during the last quarter. Hedge funds and other institutional investors own 96.70% of the company's stock.
Insider Transactions at STAAR Surgical
In related news, major shareholder Broadwood Partners, L.P. purchased 93,124 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were acquired at an average price of $17.54 per share, for a total transaction of $1,633,394.96. Following the purchase, the insider now owns 12,074,275 shares of the company's stock, valued at $211,782,783.50. This trade represents a 0.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 1,187,117 shares of company stock valued at $19,536,469 in the last 90 days. Insiders own 1.00% of the company's stock.
STAAR Surgical Price Performance
NASDAQ STAA traded up $0.25 during trading on Thursday, reaching $18.33. 537,819 shares of the company's stock traded hands, compared to its average volume of 828,836. The company's 50 day simple moving average is $17.77 and its two-hundred day simple moving average is $20.89. The firm has a market cap of $907.81 million, a price-to-earnings ratio of -44.71 and a beta of 0.65. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $49.86.
STAAR Surgical announced that its Board of Directors has approved a share buyback plan on Friday, May 16th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the medical instruments supplier to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on STAA. Jefferies Financial Group downgraded shares of STAAR Surgical from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Needham & Company LLC restated a "hold" rating on shares of STAAR Surgical in a research report on Wednesday, May 21st. Mizuho cut shares of STAAR Surgical from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $45.00 to $17.00 in a research report on Wednesday, February 12th. William Blair lowered STAAR Surgical from an "outperform" rating to a "market perform" rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus dropped their price target on shares of STAAR Surgical from $38.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Two investment 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's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $24.63.
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About STAAR Surgical
(
Free Report)
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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