STAAR Surgical (NASDAQ:STAA) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its position in STAAR Surgical (NASDAQ:STAA) by 107.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 75,983 shares of the medical instruments supplier’s stock after purchasing an additional 39,314 shares during the period. BNP Paribas Financial Markets owned about 0.15% of STAAR Surgical worth $1,846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Resona Asset Management Co. Ltd. acquired a new stake in shares of STAAR Surgical during the fourth quarter valued at $36,411,000. Vanguard Group Inc. boosted its stake in shares of STAAR Surgical by 5.8% during the fourth 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 during the last quarter. Yunqi Capital Ltd boosted its stake in shares of 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 acquiring an additional 252,113 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of STAAR Surgical by 25.1% during the fourth 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 last quarter. Finally, Algert Global LLC boosted its stake in shares of STAAR Surgical by 134.8% during the fourth quarter. Algert Global LLC now owns 191,398 shares of the medical instruments supplier’s stock valued at $4,649,000 after acquiring an additional 109,870 shares during the last quarter. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STAA has been the topic of a number of analyst reports. Wells Fargo & Company initiated coverage on STAAR Surgical in a research note on Monday, April 21st. They set an “equal weight” rating and a $17.00 price objective on the stock. Canaccord Genuity Group increased their price objective on STAAR Surgical from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. BTIG Research lowered STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 12th. StockNews.com lowered STAAR Surgical from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Finally, 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 research note on Wednesday, February 12th. Two 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.63.

STAAR Surgical Price Performance

NASDAQ STAA opened at $19.22 on Friday. The firm has a market capitalization of $951.89 million, a P/E ratio of -46.88 and a beta of 0.65. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $49.86. The business’s 50-day simple moving average is $17.60 and its 200-day simple moving average is $21.52.

STAAR Surgical announced that its Board of Directors has approved a stock repurchase plan on Friday, May 16th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, major shareholder Broadwood Partners, L.P. bought 249,503 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $16.64 per share, for a total transaction of $4,151,729.92. Following the acquisition, the insider now owns 11,953,198 shares in the company, valued at $198,901,214.72. This represents a 2.13% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 1,446,433 shares of company stock valued at $23,957,807 in the last three months. Corporate insiders own 1.00% of the company’s stock.

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.