Graham Capital Management L.P. Purchases 31,524 Shares of STAAR Surgical (NASDAQ:STAA)

Graham Capital Management L.P. raised its position in STAAR Surgical (NASDAQ:STAA - Free Report) by 237.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,804 shares of the medical instruments supplier's stock after buying an additional 31,524 shares during the period. Graham Capital Management L.P. owned 0.09% of STAAR Surgical worth $1,088,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in STAA. KLP Kapitalforvaltning AS bought a new stake in STAAR Surgical during the 4th quarter worth approximately $180,000. Bridgefront Capital LLC raised its holdings in shares of STAAR Surgical by 27.2% in the fourth quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier's stock valued at $262,000 after buying an additional 2,306 shares during the last quarter. Quantbot Technologies LP acquired a new position in STAAR Surgical during the 4th quarter worth about $278,000. Y Intercept Hong Kong Ltd bought a new stake in STAAR Surgical during the 4th quarter worth about $292,000. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of STAAR Surgical in the fourth quarter worth about $298,000. 96.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. purchased 108,720 shares of the business's stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $17.96 per share, with a total value of $1,952,611.20. Following the completion of the purchase, the insider now owns 12,182,995 shares in the company, valued at $218,806,590.20. This represents a 0.90% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have acquired 1,446,433 shares of company stock worth $23,957,807. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STAA. William Blair lowered shares of STAAR Surgical from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 12th. Jefferies Financial Group downgraded STAAR Surgical from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Stifel Nicolaus decreased their price target on STAAR Surgical from $38.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Wells Fargo & Company assumed coverage on shares of STAAR Surgical in a research report on Monday, April 21st. They set an "equal weight" rating and a $17.00 target price on the stock. Finally, Mizuho cut shares of STAAR Surgical from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $45.00 to $17.00 in a research report on Wednesday, February 12th. Two research 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 MarketBeat, STAAR Surgical currently has an average rating of "Hold" and an average target price of $24.63.

STAAR Surgical Trading Up 0.0%

Shares of STAA stock traded up $0.01 on Monday, hitting $19.23. The stock had a trading volume of 117,855 shares, compared to its average volume of 817,910. STAAR Surgical has a twelve month low of $13.50 and a twelve month high of $49.86. The company has a fifty day moving average price of $17.60 and a two-hundred day moving average price of $21.47. The firm has a market cap of $952.14 million, a P/E ratio of -46.88 and a beta of 0.65.

STAAR Surgical declared that its board has initiated a share buyback program on Friday, May 16th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the medical instruments supplier to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

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.