Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in STAAR Surgical (NASDAQ:STAA)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of STAAR Surgical (NASDAQ:STAA) by 118.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,436 shares of the medical instruments supplier’s stock after purchasing an additional 35,422 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in STAAR Surgical were worth $1,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in STAAR Surgical during the 3rd quarter worth about $50,000. Quest Partners LLC acquired a new stake in STAAR Surgical during the third quarter worth about $128,000. Larson Financial Group LLC raised its position in STAAR Surgical by 78.3% during the third quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier’s stock valued at $181,000 after acquiring an additional 2,135 shares in the last quarter. FMR LLC lifted its holdings in STAAR Surgical by 79.3% in the third quarter. FMR LLC now owns 7,092 shares of the medical instruments supplier’s stock valued at $263,000 after acquiring an additional 3,136 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in STAAR Surgical in the 4th quarter worth approximately $292,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 249,503 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $16.64 per share, with a total value of $4,151,729.92. Following the purchase, the insider now directly owns 11,953,198 shares of the company’s stock, valued at $198,901,214.72. This trade represents a 2.13 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders acquired 834,343 shares of company stock valued at $13,653,542 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler cut their target price on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. StockNews.com downgraded shares of STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Thursday, February 27th. Mizuho lowered STAAR Surgical from an “outperform” rating to a “neutral” rating and cut their price target for the company from $45.00 to $17.00 in a research note on Wednesday, February 12th. Finally, BTIG Research cut STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.29.

STAAR Surgical Stock Performance

Shares of STAA opened at $18.25 on Thursday. The stock has a 50 day moving average price of $20.08 and a 200 day moving average price of $25.87. STAAR Surgical has a one year low of $13.50 and a one year high of $52.68. The stock has a market capitalization of $900.18 million, a price-to-earnings ratio of -44.51 and a beta of 0.66.

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.