Millennium Management LLC Sells 173,179 Shares of STAAR Surgical (NASDAQ:STAA)

Millennium Management LLC lessened its holdings in STAAR Surgical (NASDAQ:STAA) by 18.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 759,141 shares of the medical instruments supplier’s stock after selling 173,179 shares during the quarter. Millennium Management LLC owned 1.54% of STAAR Surgical worth $18,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of STAA. Resona Asset Management Co. Ltd. bought a new stake in STAAR Surgical in the 4th quarter valued at $36,411,000. Vanguard Group Inc. increased its holdings in STAAR Surgical by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier’s stock valued at $142,232,000 after buying an additional 319,441 shares during the period. Yunqi Capital Ltd boosted its stake in shares of STAAR Surgical by 48.9% in the 4th quarter. Yunqi Capital Ltd now owns 767,413 shares of the medical instruments supplier’s stock valued at $18,640,000 after purchasing an additional 252,113 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of STAAR Surgical by 25.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 853,370 shares of the medical instruments supplier’s stock valued at $20,728,000 after purchasing an additional 171,046 shares in the last quarter. Finally, Algert Global LLC boosted its stake in shares of STAAR Surgical by 134.8% in the 4th quarter. Algert Global LLC now owns 191,398 shares of the medical instruments supplier’s stock valued at $4,649,000 after purchasing an additional 109,870 shares in the last quarter. Institutional investors own 96.70% of the company’s stock.

Analyst Ratings Changes

STAA has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their target price on shares of STAAR Surgical from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. William Blair downgraded shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Jefferies Financial Group downgraded shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Mizuho downgraded shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $45.00 to $17.00 in a research note on Wednesday, February 12th. Finally, BTIG Research downgraded shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.63.

STAAR Surgical Stock Down 4.1%

Shares of NASDAQ:STAA opened at $18.45 on Thursday. STAAR Surgical has a 12 month low of $13.50 and a 12 month high of $49.86. The company’s 50-day moving average price is $17.69 and its two-hundred day moving average price is $21.37. The firm has a market cap of $913.75 million, a P/E ratio of -45.00 and a beta of 0.65.

STAAR Surgical declared that its Board of Directors has initiated a stock repurchase plan on Friday, May 16th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the medical instruments supplier to buy up to 3.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. acquired 3,620 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were purchased at an average price of $17.48 per share, with a total value of $63,277.60. Following the acquisition, the insider now directly owns 12,424,944 shares in the company, valued at $217,188,021.12. The trade was a 0.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders have purchased a total of 1,446,433 shares of company stock valued at $23,957,807 in the last 90 days. 1.00% of the stock is currently owned by insiders.

STAAR Surgical Company 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.