State Street Corp Grows Holdings in STAAR Surgical Company (STAA)
State Street Corp boosted its position in shares of STAAR Surgical Company (NASDAQ:STAA) by 7.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 684,125 shares of the medical instruments supplier’s stock after purchasing an additional 49,362 shares during the period. State Street Corp owned about 1.66% of STAAR Surgical worth $7,390,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. grew its holdings in shares of STAAR Surgical by 36.2% in the 2nd quarter. Baillie Gifford & Co. now owns 666,612 shares of the medical instruments supplier’s stock valued at $7,199,000 after acquiring an additional 177,072 shares in the last quarter. Candriam Luxembourg S.C.A. grew its holdings in shares of STAAR Surgical by 151.1% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 113,000 shares of the medical instruments supplier’s stock valued at $1,220,000 after acquiring an additional 68,000 shares in the last quarter. Palo Alto Investors LLC grew its holdings in shares of STAAR Surgical by 1.6% in the 2nd quarter. Palo Alto Investors LLC now owns 3,529,070 shares of the medical instruments supplier’s stock valued at $38,114,000 after acquiring an additional 55,900 shares in the last quarter. Lincoln National Corp bought a new position in shares of STAAR Surgical in the 2nd quarter valued at about $292,000. Finally, Northern Trust Corp grew its holdings in shares of STAAR Surgical by 5.2% in the 2nd quarter. Northern Trust Corp now owns 481,459 shares of the medical instruments supplier’s stock valued at $5,199,000 after acquiring an additional 23,764 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.
In related news, VP Keith Holliday sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $16.65, for a total value of $99,900.00. Following the completion of the sale, the vice president now directly owns 45,969 shares in the company, valued at approximately $765,383.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.40% of the company’s stock.
Several brokerages recently issued reports on STAA. Canaccord Genuity raised their target price on shares of STAAR Surgical from $17.50 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 17th. BidaskClub upgraded shares of STAAR Surgical from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. Zacks Investment Research downgraded shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, Benchmark raised their target price on shares of STAAR Surgical from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $17.67.
Shares of STAAR Surgical Company (STAA) traded down $0.05 during trading hours on Friday, reaching $17.35. 155,400 shares of the company traded hands, compared to its average volume of 92,348. STAAR Surgical Company has a twelve month low of $8.95 and a twelve month high of $17.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.24 and a quick ratio of 1.72.
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STAAR Surgical Profile
STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery.
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