Invesco Ltd. Acquires 24,339 Shares of STAAR Surgical Company $STAA

Invesco Ltd. boosted its holdings in shares of STAAR Surgical Company (NASDAQ:STAA) by 12.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 227,320 shares of the medical instruments supplier’s stock after acquiring an additional 24,339 shares during the period. Invesco Ltd. owned 0.46% of STAAR Surgical worth $4,008,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Linden Thomas Advisory Services LLC boosted its position in shares of STAAR Surgical by 3.0% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 20,978 shares of the medical instruments supplier’s stock worth $370,000 after purchasing an additional 603 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 buying an additional 1,044 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of STAAR Surgical by 6.3% during the 4th quarter. MetLife Investment Management LLC now owns 30,396 shares of the medical instruments supplier’s stock worth $738,000 after buying an additional 1,796 shares during the period. US Bancorp DE grew its position in shares of STAAR Surgical by 1,693.0% during the 1st quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 1,930 shares during the period. Finally, Bridgefront Capital LLC increased its stake in shares of STAAR Surgical by 27.2% in the 4th quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier’s stock valued at $262,000 after acquiring an additional 2,306 shares during the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Trading Down 0.4%

STAA opened at $27.40 on Friday. The stock has a market capitalization of $1.36 billion, a P/E ratio of -14.20 and a beta of 0.61. STAAR Surgical Company has a 12 month low of $13.50 and a 12 month high of $38.60. The firm’s fifty day simple moving average is $21.21 and its 200 day simple moving average is $18.84.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of STAAR Surgical from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a report on Wednesday, May 21st. Canaccord Genuity Group lifted their price target on shares of STAAR Surgical from $20.00 to $28.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Stifel Nicolaus set a $28.00 price objective on shares of STAAR Surgical and gave the company a “hold” rating in a research report on Thursday, August 7th. Finally, Piper Sandler raised STAAR Surgical to a “hold” rating in a research note on Wednesday, June 18th. Ten investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.67.

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.