Raiffeisen Bank International AG Buys New Shares in STAAR Surgical (NASDAQ:STAA)

Raiffeisen Bank International AG purchased a new position in STAAR Surgical (NASDAQ:STAA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 80,000 shares of the medical instruments supplier's stock, valued at approximately $1,926,000. Raiffeisen Bank International AG owned about 0.16% of STAAR Surgical as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Defender Capital LLC. raised its stake in STAAR Surgical by 3.5% during the fourth quarter. Defender Capital LLC. now owns 701,567 shares of the medical instruments supplier's stock worth $17,041,000 after acquiring an additional 23,950 shares during the period. KBC Group NV grew its holdings in shares of STAAR Surgical by 5,700.9% during the fourth quarter. KBC Group NV now owns 96,585 shares of the medical instruments supplier's stock valued at $2,346,000 after purchasing an additional 94,920 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of STAAR Surgical during the 4th quarter worth approximately $923,000. Barclays PLC lifted its holdings in shares of STAAR Surgical by 349.4% in the 3rd quarter. Barclays PLC now owns 91,707 shares of the medical instruments supplier's stock worth $3,406,000 after purchasing an additional 71,301 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in STAAR Surgical by 21.3% during the 4th quarter. Hsbc Holdings PLC now owns 21,160 shares of the medical instruments supplier's stock valued at $513,000 after purchasing an additional 3,714 shares during the period. 96.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Broadwood Partners, L.P. acquired 249,503 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $16.64 per share, for a total transaction of $4,151,729.92. Following the completion of the acquisition, the insider now directly owns 11,953,198 shares in the company, valued at $198,901,214.72. This represents a 2.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders purchased 1,446,433 shares of company stock worth $23,957,807 over the last three months. Corporate insiders own 1.00% of the company's stock.

STAAR Surgical Stock Up 1.8%

STAAR Surgical stock traded up $0.34 during trading hours on Thursday, hitting $18.79. 153,817 shares of the company traded hands, compared to its average volume of 820,040. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $49.86. The firm has a market cap of $930.35 million, a P/E ratio of -45.90 and a beta of 0.65. The firm's 50-day simple moving average is $17.69 and its two-hundred day simple moving average is $21.37.

STAAR Surgical announced that its Board of Directors has approved a stock repurchase program on Friday, May 16th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the medical instruments supplier to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have weighed in on STAA. Piper Sandler dropped their target price on STAAR Surgical from $40.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Wall Street Zen cut shares of STAAR Surgical from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Stephens reiterated an "equal weight" rating and issued a $17.00 price objective on shares of STAAR Surgical in a research report on Tuesday, March 18th. Jefferies Financial Group cut shares of STAAR Surgical from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group raised their price target on shares of STAAR Surgical from $17.00 to $20.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $24.63.

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.