JPMorgan Chase & Co. Acquires 172,779 Shares of STAAR Surgical (NASDAQ:STAA)

JPMorgan Chase & Co. boosted its position in shares of STAAR Surgical (NASDAQ:STAA - Free Report) by 411.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 214,750 shares of the medical instruments supplier's stock after buying an additional 172,779 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.44% of STAAR Surgical worth $7,978,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in STAAR Surgical by 25.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 459,655 shares of the medical instruments supplier's stock worth $21,884,000 after buying an additional 94,422 shares during the period. Renaissance Technologies LLC raised its holdings in shares of STAAR Surgical by 137.5% during the second quarter. Renaissance Technologies LLC now owns 68,400 shares of the medical instruments supplier's stock valued at $3,257,000 after acquiring an additional 39,600 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in STAAR Surgical in the second quarter worth $390,000. Mutual of America Capital Management LLC boosted its holdings in STAAR Surgical by 214.7% in the second quarter. Mutual of America Capital Management LLC now owns 26,459 shares of the medical instruments supplier's stock valued at $1,260,000 after acquiring an additional 18,051 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in STAAR Surgical by 12.4% during the 2nd quarter. Hsbc Holdings PLC now owns 10,290 shares of the medical instruments supplier's stock valued at $492,000 after purchasing an additional 1,137 shares during the period. Hedge funds and other institutional investors own 96.70% of the company's stock.

Analysts Set New Price Targets

STAA has been the subject of several research reports. Canaccord Genuity Group decreased their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a "hold" rating for the company in a report on Monday, December 9th. Stephens raised shares of STAAR Surgical to a "hold" rating in a research note on Monday, December 2nd. Finally, Needham & Company LLC restated a "hold" rating on shares of STAAR Surgical in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $42.83.

STAAR Surgical Price Performance

NASDAQ STAA traded up $0.06 during trading hours on Wednesday, reaching $21.71. 547,082 shares of the company's stock traded hands, compared to its average volume of 738,421. The firm has a market cap of $1.07 billion, a PE ratio of 49.34 and a beta of 0.63. STAAR Surgical has a 52-week low of $21.13 and a 52-week high of $52.68. The firm has a 50-day simple moving average of $25.90 and a 200 day simple moving average of $32.23.

Insider Buying and Selling at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. bought 23,000 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of $24.33 per share, with a total value of $559,590.00. Following the completion of the acquisition, the insider now owns 10,848,631 shares of the company's stock, valued at approximately $263,947,192.23. This represents a 0.21 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% 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.