Bank of New York Mellon Corp Has $7.67 Million Stock Holdings in STAAR Surgical (NASDAQ:STAA)

Bank of New York Mellon Corp trimmed its position in STAAR Surgical (NASDAQ:STAA - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,545 shares of the medical instruments supplier's stock after selling 24,136 shares during the quarter. Bank of New York Mellon Corp owned 0.64% of STAAR Surgical worth $7,665,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of STAAR Surgical in the third quarter valued at about $50,000. Quest Partners LLC acquired a new position in shares of STAAR Surgical during the 3rd quarter worth approximately $128,000. Larson Financial Group LLC increased its holdings in shares of STAAR Surgical by 78.3% during the third quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier's stock worth $181,000 after purchasing an additional 2,135 shares during the period. FMR LLC raised its position 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 buying an additional 3,136 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of STAAR Surgical in the fourth quarter valued at approximately $292,000. Institutional investors own 96.70% of the company's stock.

Insider Activity at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. bought 259,616 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was acquired at an average price of $14.96 per share, with a total value of $3,883,855.36. Following the transaction, the insider now owns 11,137,623 shares of the company's stock, valued at $166,618,840.08. This trade represents a 2.39 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 834,343 shares of company stock worth $13,653,542 over the last three months. Company insiders own 1.00% of the company's stock.

Remove Ads

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA traded up $0.14 during midday trading on Wednesday, hitting $18.42. 521,390 shares of the stock were exchanged, compared to its average volume of 1,102,545. The business's 50-day moving average price is $20.18 and its 200 day moving average price is $25.92. STAAR Surgical has a 12 month low of $13.50 and a 12 month high of $52.68. The stock has a market capitalization of $908.62 million, a price-to-earnings ratio of -44.79 and a beta of 0.66.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on STAA. Stifel Nicolaus dropped their price objective on STAAR Surgical from $38.00 to $20.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. Piper Sandler dropped their price target on STAAR Surgical from $40.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. Mizuho cut shares of STAAR Surgical from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $45.00 to $17.00 in a research report on Wednesday, February 12th. BTIG Research lowered shares of STAAR Surgical from a "buy" rating to a "neutral" rating in a report 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 investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, STAAR Surgical currently has an average rating of "Hold" and an average target price of $25.29.

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.