ORG Partners LLC Makes New Investment in STAAR Surgical Company (NASDAQ:STAA)

ORG Partners LLC acquired a new position in shares of STAAR Surgical Company (NASDAQ:STAA) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 16,730 shares of the medical instruments supplier’s stock, valued at approximately $294,000.

A number of other hedge funds have also modified their holdings of STAA. Broadwood Capital Inc. lifted its holdings in STAAR Surgical by 0.7% during the 4th quarter. Broadwood Capital Inc. now owns 10,848,631 shares of the medical instruments supplier’s stock worth $263,513,000 after purchasing an additional 80,200 shares during the last quarter. Vanguard Group Inc. lifted its holdings in STAAR Surgical by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier’s stock worth $142,232,000 after buying an additional 319,441 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in STAAR Surgical during the 4th quarter worth about $36,411,000. Dimensional Fund Advisors LP lifted its holdings in STAAR Surgical by 25.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 853,370 shares of the medical instruments supplier’s stock worth $20,728,000 after buying an additional 171,046 shares during the period. Finally, Yunqi Capital Ltd lifted its holdings in STAAR Surgical by 48.9% during the 4th quarter. Yunqi Capital Ltd now owns 767,413 shares of the medical instruments supplier’s stock worth $18,640,000 after buying an additional 252,113 shares during the period. 96.70% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. bought 3,620 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were acquired at an average cost of $17.48 per share, for a total transaction of $63,277.60. Following the purchase, the insider now directly owns 12,424,944 shares of the company’s stock, valued at approximately $217,188,021.12. The trade was a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased a total of 735,770 shares of company stock worth $11,798,733 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

STAAR Surgical Price Performance

Shares of STAA stock opened at $16.34 on Friday. STAAR Surgical Company has a 1 year low of $13.50 and a 1 year high of $49.86. The firm has a fifty day moving average price of $17.92 and a 200-day moving average price of $19.75. The company has a market cap of $809.32 million, a price-to-earnings ratio of -11.35 and a beta of 0.63.

STAAR Surgical declared that its board has initiated a share buyback program on Friday, May 16th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the medical instruments supplier to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

STAA has been the topic of a number of recent analyst reports. Wells Fargo & Company started coverage on STAAR Surgical in a research note on Monday, April 21st. They issued an “equal weight” rating and a $17.00 price objective on the stock. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Wednesday, May 21st. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $20.00 target price on shares of STAAR Surgical in a report on Tuesday, May 27th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $17.00 target price 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 issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.63.

About STAAR Surgical

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.