Verition Fund Management LLC Invests $659,000 in STAAR Surgical (NASDAQ:STAA)

Verition Fund Management LLC acquired a new position in shares of STAAR Surgical (NASDAQ:STAAGet Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,339 shares of the medical instruments supplier’s stock, valued at approximately $659,000.

A number of other hedge funds have also recently made changes to their positions in STAA. Clearbridge Investments LLC purchased a new position in shares of STAAR Surgical during the 1st quarter worth approximately $32,339,000. Artisan Partners Limited Partnership boosted its position in shares of STAAR Surgical by 93.0% during the 2nd quarter. Artisan Partners Limited Partnership now owns 566,249 shares of the medical instruments supplier’s stock worth $40,164,000 after purchasing an additional 272,905 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of STAAR Surgical by 50.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 611,122 shares of the medical instruments supplier’s stock worth $43,347,000 after purchasing an additional 204,257 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of STAAR Surgical by 140.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 333,228 shares of the medical instruments supplier’s stock worth $23,636,000 after purchasing an additional 194,888 shares during the period. Finally, Principal Financial Group Inc. boosted its position in STAAR Surgical by 35.1% in the 2nd quarter. Principal Financial Group Inc. now owns 548,196 shares of the medical instruments supplier’s stock valued at $38,884,000 after buying an additional 142,386 shares during the period. Hedge funds and other institutional investors own 97.55% of the company’s stock.

Wall Street Analyst Weigh In

STAA has been the subject of several recent research reports. Benchmark decreased their price target on shares of STAAR Surgical from $78.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, February 1st. Sidoti raised shares of STAAR Surgical from a “neutral” rating to a “buy” rating in a research report on Monday, November 7th. Stifel Nicolaus initiated coverage on shares of STAAR Surgical in a research report on Wednesday, December 7th. They set a “hold” rating and a $60.00 price objective for the company. Stephens reaffirmed an “overweight” rating and set a $85.00 price objective on shares of STAAR Surgical in a research report on Wednesday, February 22nd. Finally, Canaccord Genuity Group lifted their price objective on shares of STAAR Surgical from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, STAAR Surgical presently has a consensus rating of “Moderate Buy” and an average target price of $82.20.

STAAR Surgical Stock Performance

NASDAQ STAA opened at $59.94 on Friday. The firm has a market cap of $2.89 billion, a PE ratio of 76.85 and a beta of 1.23. STAAR Surgical has a one year low of $46.35 and a one year high of $112.27. The firm’s fifty day moving average is $64.99 and its two-hundred day moving average is $70.03.

Insider Activity

In other news, major shareholder Broadwood Partners, L.P. bought 51,985 shares of the stock in a transaction dated Tuesday, December 27th. The shares were acquired at an average price of $47.91 per share, with a total value of $2,490,601.35. Following the completion of the acquisition, the insider now directly owns 8,643,992 shares in the company, valued at $414,133,656.72. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

About STAAR Surgical

(Get Rating)

STAAR Surgical Co engages in the development, manufacture, production, marketing, and sale of implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It specializes in refractive and cataract solutions. Its products include intraocular lens and implantable collamer lens.

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Institutional Ownership by Quarter for STAAR Surgical (NASDAQ:STAA)

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