Raymond James Financial Inc. Purchases New Stake in STAAR Surgical (NASDAQ:STAA)

Raymond James Financial Inc. acquired a new position in STAAR Surgical (NASDAQ:STAA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,017 shares of the medical instruments supplier’s stock, valued at approximately $923,000. Raymond James Financial Inc. owned approximately 0.08% of STAAR Surgical as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of 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 purchasing an additional 3,136 shares during the period. Holocene Advisors LP purchased a new position in STAAR Surgical in the third quarter valued at about $1,096,000. HighTower Advisors LLC acquired a new stake in shares of STAAR Surgical during the 3rd quarter valued at approximately $336,000. Quarry LP purchased a new stake in shares of STAAR Surgical during the 3rd quarter worth approximately $50,000. Finally, State Street Corp grew its holdings in shares of STAAR Surgical by 0.5% in the 3rd quarter. State Street Corp now owns 1,940,567 shares of the medical instruments supplier’s stock worth $72,092,000 after acquiring an additional 10,430 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

Insider Buying and Selling at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. acquired 21,155 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was bought at an average price of $21.46 per share, with a total value of $453,986.30. Following the purchase, the insider now directly owns 10,869,786 shares in the company, valued at $233,265,607.56. The trade was a 0.20 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders acquired 1,128,072 shares of company stock worth $18,842,293. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

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

STAAR Surgical Price Performance

NASDAQ:STAA opened at $15.92 on Friday. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $52.68. The firm has a 50 day simple moving average of $18.82 and a 200-day simple moving average of $24.76. The firm has a market cap of $785.25 million, a PE ratio of -38.83 and a beta of 0.75.

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.