JPMorgan Chase & Co. Has $7.98 Million Stake in STAAR Surgical (NASDAQ:STAA)

JPMorgan Chase & Co. grew its stake in shares of STAAR Surgical (NASDAQ:STAA) by 411.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 214,750 shares of the medical instruments supplier’s stock after buying an additional 172,779 shares during the period. JPMorgan Chase & Co.’s holdings in STAAR Surgical were worth $7,978,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new position in STAAR Surgical in the 3rd quarter valued at approximately $37,000. Quarry LP bought a new stake in shares of STAAR Surgical during the third quarter valued at approximately $50,000. Quest Partners LLC acquired a new position in shares of STAAR Surgical in the third quarter valued at $128,000. Canada Pension Plan Investment Board acquired a new position in STAAR Surgical in the second quarter worth about $129,000. Finally, Van ECK Associates Corp grew its holdings in shares of STAAR Surgical by 12.7% in the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after purchasing an additional 393 shares during the last quarter. Institutional investors own 96.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a report on Tuesday, January 7th. Canaccord Genuity Group lowered their target price on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Finally, Stephens upgraded shares of STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $42.83.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 53,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average cost of $24.24 per share, with a total value of $1,296,840.00. Following the purchase, the insider now owns 10,821,931 shares in the company, valued at $262,323,607.44. This trade represents a 0.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

STAAR Surgical Price Performance

Shares of NASDAQ:STAA opened at $21.65 on Wednesday. The firm’s 50 day simple moving average is $26.07 and its 200 day simple moving average is $32.42. STAAR Surgical has a fifty-two week low of $21.13 and a fifty-two week high of $52.68. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 49.20 and a beta of 0.63.

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.