Legal & General Group Plc Grows Holdings in STAAR Surgical Company $STAA

Legal & General Group Plc raised its stake in STAAR Surgical Company (NASDAQ:STAA) by 12.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 205,965 shares of the medical instruments supplier’s stock after buying an additional 22,967 shares during the period. Legal & General Group Plc owned about 0.42% of STAAR Surgical worth $3,456,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. CWM LLC grew its position in STAAR Surgical by 74.1% in the second quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after acquiring an additional 665 shares in the last quarter. US Bancorp DE lifted its stake in STAAR Surgical by 1,693.0% during the first quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 1,930 shares during the last quarter. Brooklyn Investment Group lifted its stake in STAAR Surgical by 1,564.0% during the first quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier’s stock worth $47,000 after purchasing an additional 2,518 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of STAAR Surgical by 691.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock worth $61,000 after purchasing an additional 3,151 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of STAAR Surgical during the 1st quarter valued at about $189,000. 96.70% of the stock is owned by institutional investors.

STAAR Surgical Stock Performance

Shares of STAA stock opened at $25.38 on Friday. The company has a market capitalization of $1.26 billion, a P/E ratio of -13.02 and a beta of 1.01. STAAR Surgical Company has a fifty-two week low of $13.50 and a fifty-two week high of $30.81. The stock has a 50 day moving average price of $26.39 and a two-hundred day moving average price of $23.37.

Analysts Set New Price Targets

A number of research firms recently weighed in on STAA. Weiss Ratings restated a “sell (d)” rating on shares of STAAR Surgical in a research report on Wednesday, October 8th. Piper Sandler restated a “neutral” rating on shares of STAAR Surgical in a report on Monday, October 27th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $28.00 price objective on shares of STAAR Surgical in a research note on Tuesday, October 21st. Ten analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $20.67.

Insider Transactions at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. purchased 797,486 shares of the business’s stock in a transaction on Friday, November 21st. The shares were acquired at an average price of $27.86 per share, with a total value of $22,217,959.96. Following the acquisition, the insider directly owned 15,019,491 shares in the company, valued at approximately $418,443,019.26. The trade was a 5.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders have acquired 1,500,000 shares of company stock valued at $41,061,615. 0.59% of the stock is owned by company insiders.

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.