BCK Capital Management LP Invests $1.37 Million in STAAR Surgical Company $STAA

BCK Capital Management LP bought a new stake in shares of STAAR Surgical Company (NASDAQ:STAA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 51,006 shares of the medical instruments supplier’s stock, valued at approximately $1,371,000. STAAR Surgical accounts for approximately 1.5% of BCK Capital Management LP’s portfolio, making the stock its 22nd largest holding. BCK Capital Management LP owned 0.10% of STAAR Surgical at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of STAA. New York Life Investment Management LLC bought a new position in STAAR Surgical in the third quarter worth approximately $2,243,000. Alpine Associates Management Inc. bought a new stake in shares of STAAR Surgical during the third quarter valued at approximately $24,535,000. Versor Investments LP acquired a new position in shares of STAAR Surgical during the third quarter worth approximately $5,708,000. Credit Industriel ET Commercial bought a new position in shares of STAAR Surgical in the 3rd quarter worth $3,258,000. Finally, ABC Arbitrage SA bought a new position in shares of STAAR Surgical in the 3rd quarter worth $6,632,000. 96.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wedbush began coverage on shares of STAAR Surgical in a report on Tuesday, February 3rd. They set a “neutral” rating and a $26.00 price objective on the stock. Stifel Nicolaus decreased their target price on shares of STAAR Surgical from $28.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, February 9th. Canaccord Genuity Group lowered their target price on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating on the stock in a report on Thursday, January 15th. BTIG Research reaffirmed a “neutral” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Finally, Jefferies Financial Group cut their price target on STAAR Surgical from $28.00 to $21.50 and set a “buy” rating for the company in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $20.91.

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA opened at $17.76 on Friday. The company has a market capitalization of $883.38 million, a P/E ratio of -9.11 and a beta of 1.06. The company’s 50-day moving average is $20.67 and its 200 day moving average is $24.63. STAAR Surgical Company has a fifty-two week low of $14.69 and a fifty-two week high of $30.81.

Insider Buying and Selling at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. purchased 336,946 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was bought at an average price of $21.62 per share, for a total transaction of $7,284,772.52. Following the purchase, the insider directly owned 15,356,437 shares in the company, valued at approximately $332,006,167.94. This trade represents a 2.24% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 434,138 shares of company stock worth $9,424,176. 0.59% of the stock is owned by corporate insiders.

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. 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.