Atika Capital Management LLC Takes $275,000 Position in STAAR Surgical Company $STAA

Atika Capital Management LLC purchased a new stake in STAAR Surgical Company (NASDAQ:STAA) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 16,400 shares of the medical instruments supplier’s stock, valued at approximately $275,000.

A number of other institutional investors and hedge funds have also made changes to their positions in STAA. Pinnacle Investment Management Ltd purchased a new stake in shares of STAAR Surgical during the 1st quarter worth approximately $1,155,000. Strs Ohio acquired a new stake in STAAR Surgical during the 1st quarter worth $190,000. Assenagon Asset Management S.A. lifted its position in STAAR Surgical by 213.1% in the second quarter. Assenagon Asset Management S.A. now owns 164,088 shares of the medical instruments supplier’s stock valued at $2,753,000 after acquiring an additional 111,686 shares during the last quarter. Caxton Associates LLP acquired a new position in STAAR Surgical in the first quarter valued at $1,051,000. Finally, Yunqi Capital Ltd grew its holdings in shares of STAAR Surgical by 24.4% during the second quarter. Yunqi Capital Ltd now owns 2,411,288 shares of the medical instruments supplier’s stock worth $40,461,000 after purchasing an additional 473,699 shares during the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 797,486 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average cost of $27.86 per share, for a total transaction of $22,217,959.96. Following the transaction, the insider directly owned 15,019,491 shares of the company’s stock, valued at approximately $418,443,019.26. This represents a 5.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders purchased 1,500,000 shares of company stock valued at $41,061,615. Corporate insiders own 0.59% of the company’s stock.

STAAR Surgical Price Performance

Shares of STAA stock opened at $26.03 on Thursday. The business’s fifty day moving average price is $26.49 and its 200 day moving average price is $23.02. The firm has a market capitalization of $1.29 billion, a PE ratio of -13.49 and a beta of 0.92. STAAR Surgical Company has a 1-year low of $13.50 and a 1-year high of $30.81.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on STAA. Piper Sandler reissued a “neutral” rating on shares of STAAR Surgical in a report on Monday, October 27th. Canaccord Genuity Group reiterated a “hold” rating and issued a $28.00 price objective on shares of STAAR Surgical in a research note on Tuesday, October 21st. Stifel Nicolaus set a $28.00 target price on shares of STAAR Surgical and gave the stock a “hold” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a report on Wednesday, October 8th. Ten research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, STAAR Surgical currently has a consensus rating of “Reduce” and an average target price of $20.67.

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.