Sherbrooke Park Advisers LLC Buys New Holdings in STAAR Surgical (NASDAQ:STAA)

Sherbrooke Park Advisers LLC bought a new stake in STAAR Surgical (NASDAQ:STAA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,663 shares of the medical instruments supplier’s stock, valued at approximately $502,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Defender Capital LLC. increased its position in STAAR Surgical by 3.5% in the 4th quarter. Defender Capital LLC. now owns 701,567 shares of the medical instruments supplier’s stock valued at $17,041,000 after buying an additional 23,950 shares in the last quarter. KBC Group NV increased its position in STAAR Surgical by 5,700.9% in the 4th quarter. KBC Group NV now owns 96,585 shares of the medical instruments supplier’s stock valued at $2,346,000 after buying an additional 94,920 shares in the last quarter. Raymond James Financial Inc. bought a new stake in STAAR Surgical in the 4th quarter valued at about $923,000. Barclays PLC increased its position in STAAR Surgical by 349.4% in the 3rd quarter. Barclays PLC now owns 91,707 shares of the medical instruments supplier’s stock valued at $3,406,000 after buying an additional 71,301 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in STAAR Surgical by 21.3% in 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 in the last quarter. 96.70% of the stock is owned by institutional investors.

Insider Transactions at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 8,200 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The shares were acquired at an average price of $15.08 per share, for a total transaction of $123,656.00. Following the completion of the purchase, the insider now owns 13,518,591 shares in the company, valued at approximately $203,860,352.28. This trade represents a 0.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have acquired 1,446,433 shares of company stock worth $23,957,807 in the last 90 days. Insiders own 1.00% of the company’s stock.

STAAR Surgical Stock Up 5.1%

Shares of NASDAQ STAA opened at $19.22 on Friday. STAAR Surgical has a twelve month low of $13.50 and a twelve month high of $49.86. The stock’s 50 day moving average price is $17.60 and its 200-day moving average price is $21.52. The company has a market capitalization of $951.89 million, a PE ratio of -46.88 and a beta of 0.65.

STAAR Surgical declared that its board has approved a stock repurchase plan on Friday, May 16th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the medical instruments supplier to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on STAA. Canaccord Genuity Group boosted their price objective on STAAR Surgical from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. StockNews.com lowered STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Thursday, February 27th. Mizuho lowered STAAR Surgical from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $45.00 to $17.00 in a report on Wednesday, February 12th. Finally, Stephens reissued an “equal weight” rating and set a $17.00 price objective on shares of STAAR Surgical in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.63.

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.