Renaissance Technologies LLC Reduces Stock Holdings in STAAR Surgical (NASDAQ:STAA)

Renaissance Technologies LLC reduced its position in shares of STAAR Surgical (NASDAQ:STAA - Free Report) by 54.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,100 shares of the medical instruments supplier's stock after selling 165,800 shares during the period. Renaissance Technologies LLC owned 0.28% of STAAR Surgical worth $3,354,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in STAA. Resona Asset Management Co. Ltd. purchased a new stake in STAAR Surgical during the fourth quarter worth about $36,411,000. Vanguard Group Inc. raised its position in shares of STAAR Surgical by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier's stock worth $142,232,000 after buying an additional 319,441 shares in the last quarter. Yunqi Capital Ltd raised 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 in the last quarter. JPMorgan Chase & Co. raised its position in STAAR Surgical by 411.7% during the third quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier's stock valued at $7,978,000 after purchasing an additional 172,779 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its stake in shares of STAAR Surgical by 36.7% during the fourth quarter. Jupiter Asset Management Ltd. now owns 377,249 shares of the medical instruments supplier's stock valued at $9,163,000 after buying an additional 101,373 shares during the last quarter. 96.70% of the stock is owned by institutional investors.

STAAR Surgical Stock Up 1.5 %

Shares of STAA stock traded up $0.27 during trading hours on Tuesday, hitting $18.43. 43,362 shares of the company's stock traded hands, compared to its average volume of 792,317. The stock's fifty day simple moving average is $17.23 and its two-hundred day simple moving average is $22.63. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $49.86. The stock has a market cap of $908.81 million, a price-to-earnings ratio of -44.95 and a beta of 0.75.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 108,720 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average cost of $17.96 per share, with a total value of $1,952,611.20. Following the completion of the transaction, the insider now directly owns 12,182,995 shares of the company's stock, valued at approximately $218,806,590.20. This represents a 0.90 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders acquired 1,742,581 shares of company stock worth $28,407,543. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

STAA has been the topic of a number of recent research reports. StockNews.com cut STAAR Surgical from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Wells Fargo & Company initiated coverage on STAAR Surgical in a research note on Monday, April 21st. They issued an "equal weight" rating and a $17.00 target price on the stock. Mizuho cut STAAR Surgical from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $45.00 to $17.00 in a research note on Wednesday, February 12th. Jefferies Financial Group cut STAAR Surgical from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Finally, Piper Sandler cut their target price on STAAR Surgical from $40.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $24.25.

About STAAR Surgical

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.