STAAR Surgical Company $STAA Stock Position Reduced by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in STAAR Surgical Company (NASDAQ:STAA) by 36.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,488 shares of the medical instruments supplier’s stock after selling 7,672 shares during the quarter. Hsbc Holdings PLC’s holdings in STAAR Surgical were worth $236,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE lifted its stake in STAAR Surgical by 1,693.0% in the first quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier’s stock valued at $36,000 after acquiring an additional 1,930 shares during the last quarter. Brooklyn Investment Group lifted its stake in STAAR Surgical by 1,564.0% in the first quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier’s stock valued at $47,000 after acquiring an additional 2,518 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in STAAR Surgical by 29.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,076 shares of the medical instruments supplier’s stock valued at $248,000 after acquiring an additional 3,217 shares during the last quarter. GAMMA Investing LLC lifted its stake in STAAR Surgical by 4,086.0% in the first quarter. GAMMA Investing LLC now owns 14,651 shares of the medical instruments supplier’s stock valued at $258,000 after acquiring an additional 14,301 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in STAAR Surgical in the first quarter valued at approximately $294,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

STAAR Surgical Price Performance

Shares of STAAR Surgical stock opened at $27.94 on Friday. STAAR Surgical Company has a fifty-two week low of $13.50 and a fifty-two week high of $38.60. The firm has a fifty day moving average price of $22.51 and a two-hundred day moving average price of $19.28. The company has a market cap of $1.38 billion, a PE ratio of -14.48 and a beta of 0.74.

STAAR Surgical declared that its Board of Directors has initiated a share repurchase plan on Friday, May 16th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the medical instruments supplier to reacquire up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board 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.