Geneva Capital Management LLC Sells 32,590 Shares of STAAR Surgical (NASDAQ:STAA)

Geneva Capital Management LLC lessened its position in STAAR Surgical (NASDAQ:STAA) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 662,825 shares of the medical instruments supplier’s stock after selling 32,590 shares during the period. Geneva Capital Management LLC owned approximately 1.35% of STAAR Surgical worth $16,100,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its holdings in shares of 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 valued at $129,000 after buying an additional 393 shares during the period. Creative Planning boosted its holdings in shares of STAAR Surgical by 8.0% in the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock valued at $205,000 after buying an additional 408 shares during the period. LMR Partners LLP boosted its holdings in shares of STAAR Surgical by 2.2% in the third quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier’s stock valued at $1,290,000 after buying an additional 743 shares during the period. Quarry LP acquired a new position in shares of STAAR Surgical in the third quarter valued at approximately $50,000. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in shares of STAAR Surgical by 1.2% in the third quarter. Kornitzer Capital Management Inc. KS now owns 164,625 shares of the medical instruments supplier’s stock valued at $6,116,000 after buying an additional 1,900 shares during the period. Institutional investors own 96.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on STAA. Jefferies Financial Group cut shares of STAAR Surgical from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Piper Sandler reduced their target price on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. BTIG Research cut shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Thursday, February 27th. Finally, StockNews.com cut shares of STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, STAAR Surgical currently has an average rating of “Hold” and an average price target of $26.86.

STAAR Surgical Price Performance

Shares of STAA stock opened at $18.17 on Thursday. The stock has a market cap of $896.24 million, a P/E ratio of -44.32 and a beta of 0.66. The company has a fifty day moving average price of $21.41 and a two-hundred day moving average price of $27.04. STAAR Surgical has a one year low of $13.50 and a one year high of $52.68.

Insider Activity

In related news, major shareholder Broadwood Partners, L.P. acquired 23,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were bought at an average cost of $24.33 per share, with a total value of $559,590.00. Following the completion of the transaction, the insider now directly owns 10,848,631 shares of the company’s stock, valued at $263,947,192.23. This trade represents a 0.21 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have purchased 910,843 shares of company stock valued at $15,509,972 over the last ninety days. 1.00% of the stock is currently 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.