STAAR Surgical (NASDAQ:STAA) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its holdings in STAAR Surgical (NASDAQ:STAA) by 10.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 439,480 shares of the medical instruments supplier’s stock after selling 52,467 shares during the period. Bank of America Corp DE owned about 0.89% of STAAR Surgical worth $10,675,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in STAA. Resona Asset Management Co. Ltd. acquired a new stake in shares of STAAR Surgical during the 4th quarter valued at approximately $36,411,000. Vanguard Group Inc. raised its position in shares of STAAR Surgical by 5.8% during the 4th 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 in the last quarter. Yunqi Capital Ltd raised its position in shares of STAAR Surgical by 48.9% during the 4th 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of STAAR Surgical by 25.1% during the 4th 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 in the last quarter. Finally, Algert Global LLC raised its position in shares of STAAR Surgical by 134.8% during the 4th 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 in the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 8,200 shares of the firm’s stock in a transaction dated Wednesday, April 9th. The stock was bought at an average price of $15.08 per share, with a total value of $123,656.00. Following the completion of the purchase, the insider now owns 13,518,591 shares in the company, valued at $203,860,352.28. This trade represents a 0.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders acquired 1,446,433 shares of company stock valued at $23,957,807. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STAA. Wells Fargo & Company began coverage on STAAR Surgical in a research report on Monday, April 21st. They set an “equal weight” rating and a $17.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research report on Wednesday. Wall Street Zen lowered STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Stephens reaffirmed an “equal weight” rating and issued a $17.00 target price on shares of STAAR Surgical in a research report on Tuesday, March 18th. Finally, Jefferies Financial Group lowered STAAR Surgical from a “buy” rating to a “hold” rating in a research report 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 company. According to data from MarketBeat.com, STAAR Surgical presently has a consensus rating of “Hold” and a consensus target price of $24.63.

STAAR Surgical Price Performance

Shares of NASDAQ STAA opened at $18.68 on Friday. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $49.86. The firm has a market capitalization of $925.15 million, a PE ratio of -45.56 and a beta of 0.65. The business’s fifty day moving average price is $17.72 and its two-hundred day moving average price is $21.22.

STAAR Surgical declared that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.