Nuveen LLC Makes New $2.76 Million Investment in STAAR Surgical Company $STAA

Nuveen LLC purchased a new position in STAAR Surgical Company (NASDAQ:STAA) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 156,747 shares of the medical instruments supplier’s stock, valued at approximately $2,763,000. Nuveen LLC owned 0.32% of STAAR Surgical as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in STAAR Surgical by 75.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,234 shares of the medical instruments supplier’s stock valued at $374,000 after buying an additional 9,125 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of STAAR Surgical during the 4th quarter valued at approximately $923,000. Principal Financial Group Inc. boosted its stake in shares of STAAR Surgical by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 300,204 shares of the medical instruments supplier’s stock valued at $5,293,000 after buying an additional 9,451 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of STAAR Surgical by 21.3% during the 4th quarter. Hsbc Holdings PLC now owns 21,160 shares of the medical instruments supplier’s stock valued at $513,000 after buying an additional 3,714 shares during the last quarter. Finally, Integral Health Asset Management LLC boosted its stake in shares of STAAR Surgical by 100.0% during the 4th quarter. Integral Health Asset Management LLC now owns 100,000 shares of the medical instruments supplier’s stock valued at $2,429,000 after buying an additional 50,000 shares during the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

STAAR Surgical Stock Performance

STAA stock opened at $27.40 on Friday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -14.20 and a beta of 0.61. STAAR Surgical Company has a 1 year low of $13.50 and a 1 year high of $38.60. The stock’s fifty day moving average is $21.21 and its two-hundred day moving average is $18.84.

STAAR Surgical announced that its board has authorized a share buyback plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

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.