Resona Asset Management Co. Ltd. Buys New Position in STAAR Surgical (NASDAQ:STAA)

Resona Asset Management Co. Ltd. purchased a new position in shares of STAAR Surgical (NASDAQ:STAA) in the 4th quarter, HoldingsChannel reports. The firm purchased 1,500,188 shares of the medical instruments supplier’s stock, valued at approximately $36,411,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new position in shares of STAAR Surgical in the 3rd quarter worth about $50,000. KLP Kapitalforvaltning AS bought a new stake in shares of STAAR Surgical during the fourth quarter valued at approximately $180,000. FMR LLC raised its position in shares of STAAR Surgical by 79.3% during the third quarter. FMR LLC now owns 7,092 shares of the medical instruments supplier’s stock worth $263,000 after purchasing an additional 3,136 shares during the period. Quantbot Technologies LP bought a new position in shares of STAAR Surgical in the 4th quarter worth $278,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in STAAR Surgical in the 4th quarter valued at $292,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Trading Down 8.5 %

NASDAQ:STAA opened at $15.92 on Friday. STAAR Surgical has a 12 month low of $13.50 and a 12 month high of $52.68. The firm’s 50 day moving average is $18.82 and its 200 day moving average is $24.76. The stock has a market capitalization of $785.25 million, a PE ratio of -38.83 and a beta of 0.75.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 21,155 shares of the stock in a transaction dated Tuesday, January 14th. The shares were bought at an average price of $21.46 per share, with a total value of $453,986.30. Following the completion of the transaction, the insider now directly owns 10,869,786 shares in the company, valued at approximately $233,265,607.56. This trade represents a 0.20 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 1,128,072 shares of company stock worth $18,842,293 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

STAA has been the subject of several recent research reports. Stephens reissued an “equal weight” rating and set a $17.00 target price on shares of STAAR Surgical in a research report on Tuesday, March 18th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Thursday, February 27th. Piper Sandler decreased their price target on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Mizuho cut STAAR Surgical from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $45.00 to $17.00 in a research note on Wednesday, February 12th. Finally, StockNews.com downgraded shares of STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.29.

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.