ABC Arbitrage SA Buys Shares of 246,829 STAAR Surgical Company $STAA

ABC Arbitrage SA acquired a new position in STAAR Surgical Company (NASDAQ:STAA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 246,829 shares of the medical instruments supplier’s stock, valued at approximately $6,632,000. ABC Arbitrage SA owned 0.50% of STAAR Surgical at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Amalgamated Bank boosted its stake in shares of STAAR Surgical by 3.6% during the 3rd quarter. Amalgamated Bank now owns 14,609 shares of the medical instruments supplier’s stock worth $393,000 after acquiring an additional 514 shares during the last quarter. CWM LLC raised its holdings in STAAR Surgical by 74.1% in the 2nd quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after purchasing an additional 665 shares during the period. GAMMA Investing LLC lifted its position in STAAR Surgical by 61.4% during the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 706 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in STAAR Surgical by 7.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,711 shares of the medical instruments supplier’s stock valued at $213,000 after purchasing an additional 923 shares during the period. Finally, Franklin Resources Inc. increased its position in STAAR Surgical by 3.0% in the second quarter. Franklin Resources Inc. now owns 35,175 shares of the medical instruments supplier’s stock worth $590,000 after buying an additional 1,012 shares in the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STAA. Wells Fargo & Company lifted their price objective on STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Stifel Nicolaus lowered their price target on shares of STAAR Surgical from $28.00 to $19.00 and set a “hold” rating on the stock in a report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. BTIG Research reissued a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Finally, Jefferies Financial Group decreased their price objective on shares of STAAR Surgical from $28.00 to $21.50 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $20.36.

Insider Activity at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 797,486 shares of the business’s stock in a transaction on Friday, November 21st. The shares were acquired at an average price of $27.86 per share, with a total value of $22,217,959.96. Following the transaction, the insider owned 15,019,491 shares of the company’s stock, valued at approximately $418,443,019.26. This trade represents a 5.61% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 1,934,138 shares of company stock worth $50,485,791 in the last 90 days. Company insiders own 0.59% of the company’s stock.

STAAR Surgical Trading Down 0.6%

Shares of NASDAQ STAA opened at $17.30 on Wednesday. STAAR Surgical Company has a 12-month low of $13.50 and a 12-month high of $30.81. The firm’s 50-day moving average price is $21.97 and its 200-day moving average price is $24.80. The stock has a market capitalization of $860.50 million, a price-to-earnings ratio of -8.87 and a beta of 1.06.

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.