STAAR Surgical (NASDAQ:STAA) Stake Lifted by Axa S.A.

Posted by Defense World Staff on Feb 28th, 2023

Axa S.A. increased its stake in STAAR Surgical (NASDAQ:STAA – Get Rating) by 102.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,900 shares of the medical instruments supplier’s stock after acquiring an additional 12,100 shares during the period. Axa S.A.’s holdings in STAAR Surgical were worth $1,686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royce & Associates LP boosted its holdings in shares of STAAR Surgical by 3.6% in the second quarter. Royce & Associates LP now owns 57,984 shares of the medical instruments supplier’s stock valued at $4,113,000 after acquiring an additional 2,039 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in STAAR Surgical during the third quarter valued at approximately $41,000. Point72 Asset Management L.P. acquired a new stake in STAAR Surgical during the second quarter valued at approximately $3,334,000. Los Angeles Capital Management LLC lifted its stake in STAAR Surgical by 1.1% during the second quarter. Los Angeles Capital Management LLC now owns 61,268 shares of the medical instruments supplier’s stock valued at $4,346,000 after purchasing an additional 649 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in STAAR Surgical by 264.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 496 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 360 shares during the last quarter. 97.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. bought 39,090 shares of the business’s stock in a transaction on Thursday, December 29th. The stock was bought at an average price of $47.93 per share, for a total transaction of $1,873,583.70. Following the transaction, the insider now directly owns 8,783,082 shares in the company, valued at $420,973,120.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Canaccord Genuity Group cut their target price on shares of STAAR Surgical from $88.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. BTIG Research lowered shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Monday, February 6th. Stephens reissued an “overweight” rating and set a $85.00 target price on shares of STAAR Surgical in a research note on Wednesday, February 22nd. Benchmark cut their target price on shares of STAAR Surgical from $78.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, February 1st. Finally, Stifel Nicolaus began coverage on shares of STAAR Surgical in a research report on Wednesday, December 7th. They issued a “hold” rating and a $60.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.20.

STAAR Surgical Stock Down 1.9 %

STAA stock opened at $56.25 on Tuesday. STAAR Surgical has a 12-month low of $46.35 and a 12-month high of $112.27. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 72.12 and a beta of 1.18. The company has a 50 day moving average of $64.33 and a two-hundred day moving average of $71.15.

STAAR Surgical Company Profile

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STAAR Surgical Co engages in the development, manufacture, production, marketing, and sale of implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It specializes in refractive and cataract solutions. Its products include intraocular lens and implantable collamer lens.