Lane Generational LLC Makes New Investment in STAAR Surgical (NASDAQ:STAA)

Lane Generational LLC acquired a new position in STAAR Surgical (NASDAQ:STAA) during the 4th quarter, HoldingsChannel reports. The fund acquired 59,336 shares of the medical instruments supplier’s stock, valued at approximately $1,441,000. STAAR Surgical comprises 1.4% of Lane Generational LLC’s investment portfolio, making the stock its 21st largest position.

Several other hedge funds have also added to or reduced their stakes in the stock. Van ECK Associates Corp raised its position in STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after acquiring an additional 393 shares during the period. Creative Planning raised its position in STAAR Surgical by 8.0% in the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock worth $205,000 after acquiring an additional 408 shares during the period. LMR Partners LLP raised its position in STAAR Surgical by 2.2% in the third quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier’s stock worth $1,290,000 after acquiring an additional 743 shares during the period. Quarry LP bought a new stake in STAAR Surgical in the third quarter worth about $50,000. Finally, Larson Financial Group LLC raised its position in STAAR Surgical by 78.3% in the third quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier’s stock worth $181,000 after acquiring an additional 2,135 shares during the period. Institutional investors own 96.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Jefferies Financial Group lowered shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. StockNews.com downgraded shares of STAAR Surgical from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Mizuho downgraded shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $45.00 to $17.00 in a research note on Wednesday, February 12th. Canaccord Genuity Group reduced their target price on shares of STAAR Surgical from $28.00 to $17.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Finally, Stifel Nicolaus reduced their target price on shares of STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, STAAR Surgical has a consensus rating of “Hold” and a consensus price target of $26.86.

STAAR Surgical Trading Down 6.7 %

Shares of NASDAQ:STAA opened at $18.34 on Wednesday. STAAR Surgical has a 12 month low of $13.50 and a 12 month high of $52.68. The stock has a market cap of $904.62 million, a P/E ratio of -44.73 and a beta of 0.66. The company has a 50 day moving average of $20.81 and a 200 day moving average of $26.44.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. purchased 249,503 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $16.64 per share, with a total value of $4,151,729.92. Following the purchase, the insider now directly owns 11,953,198 shares in the company, valued at approximately $198,901,214.72. This represents a 2.13 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 910,843 shares of company stock valued at $15,509,972 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

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.