SG Americas Securities LLC Has $865,000 Position in STAAR Surgical Company (NASDAQ:STAA)

SG Americas Securities LLC increased its position in STAAR Surgical Company (NASDAQ:STAA) by 123.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,072 shares of the medical instruments supplier’s stock after buying an additional 27,075 shares during the period. SG Americas Securities LLC owned 0.10% of STAAR Surgical worth $865,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in STAAR Surgical by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,123 shares of the medical instruments supplier’s stock worth $683,000 after purchasing an additional 1,044 shares during the period. MetLife Investment Management LLC boosted its position in STAAR Surgical by 6.3% during the fourth quarter. MetLife Investment Management LLC now owns 30,396 shares of the medical instruments supplier’s stock worth $738,000 after purchasing an additional 1,796 shares during the period. Bridgefront Capital LLC boosted its position in STAAR Surgical by 27.2% during the fourth quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier’s stock worth $262,000 after purchasing an additional 2,306 shares during the period. Illinois Municipal Retirement Fund boosted its position in STAAR Surgical by 8.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 30,144 shares of the medical instruments supplier’s stock worth $732,000 after purchasing an additional 2,318 shares during the period. Finally, Deutsche Bank AG boosted its position in STAAR Surgical by 6.9% during the fourth quarter. Deutsche Bank AG now owns 45,193 shares of the medical instruments supplier’s stock worth $1,098,000 after purchasing an additional 2,932 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 3,620 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were purchased at an average price of $17.48 per share, for a total transaction of $63,277.60. Following the completion of the purchase, the insider now directly owns 12,424,944 shares of the company’s stock, valued at approximately $217,188,021.12. This represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have purchased 735,770 shares of company stock worth $11,798,733. Insiders own 1.00% of the company’s stock.

STAAR Surgical Trading Up 1.3%

Shares of STAAR Surgical stock opened at $16.85 on Thursday. The company’s fifty day simple moving average is $17.91 and its 200-day simple moving average is $19.89. The company has a market cap of $834.58 million, a price-to-earnings ratio of -11.70 and a beta of 0.63. STAAR Surgical Company has a 1 year low of $13.50 and a 1 year high of $49.86.

STAAR Surgical announced that its board has authorized a share buyback program on Friday, May 16th that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the medical instruments supplier to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Wednesday, May 21st. Wells Fargo & Company assumed coverage on STAAR Surgical in a research report on Monday, April 21st. They set an “equal weight” rating and a $17.00 target price for the company. Stephens reaffirmed an “equal weight” rating and set a $17.00 target price on shares of STAAR Surgical in a research report on Tuesday, March 18th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $20.00 target price on shares of STAAR Surgical in a research report on Tuesday, May 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, STAAR Surgical 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.