Baillie Gifford Cuts STAAR Surgical Stake to 10.1%
Ticker: STAA · Form: SC 13G/A · Filed: Jan 26, 2024 · CIK: 718937
| Field | Detail |
|---|---|
| Company | Staar Surgical Co (STAA) |
| Form Type | SC 13G/A |
| Filed Date | Jan 26, 2024 |
| Risk Level | medium |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, stake-reduction, SC-13G/A
TL;DR
**Big investor Baillie Gifford just cut its STAAR Surgical stake to 10.1%.**
AI Summary
Baillie Gifford & Co, a major investment firm, filed an amended SC 13G/A on January 26, 2024, disclosing a significant reduction in its ownership of STAAR SURGICAL CO (NASDAQ: STAA) common stock. As of December 29, 2023, Baillie Gifford now beneficially owns 4,997,058 shares, representing 10.1% of the company, down from their previous reported stake. This matters to investors because a large institutional investor reducing its position could signal a change in their outlook on STAAR Surgical's future performance or valuation.
Why It Matters
This filing shows a major institutional investor, Baillie Gifford & Co, has significantly reduced its stake in STAAR Surgical, which could be interpreted as a loss of confidence or a strategic portfolio rebalancing.
Risk Assessment
Risk Level: medium — A large institutional investor reducing its stake can create selling pressure and signal potential concerns about the company's future prospects.
Analyst Insight
A smart investor would monitor STAAR Surgical's stock performance closely in the coming days and weeks, looking for further institutional selling or any company news that might explain Baillie Gifford's reduced stake, before making any investment decisions.
Key Numbers
- 4,997,058 — Shares owned by Baillie Gifford (Represents Baillie Gifford's current beneficial ownership in STAAR SURGICAL CO as of December 29, 2023.)
- 10.1% — Percentage of class owned (Indicates Baillie Gifford's reduced ownership stake in STAAR SURGICAL CO.)
Key Players & Entities
- Baillie Gifford & Co (company) — the investment firm filing the SC 13G/A
- STAAR SURGICAL CO (company) — the subject company whose shares are being reported
- 4,997,058 shares (dollar_amount) — the number of shares beneficially owned by Baillie Gifford & Co as of December 29, 2023
- 10.1% (dollar_amount) — the percentage of STAAR SURGICAL CO's common stock beneficially owned by Baillie Gifford & Co
- December 29, 2023 (date) — the date of the event requiring the filing of this statement
- January 26, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- STAAR Surgical's stock price may experience short-term selling pressure due to this disclosure. (STAAR SURGICAL CO) — medium confidence, target: 2024-02-09
- Other institutional investors might re-evaluate their positions in STAAR Surgical following Baillie Gifford's reduction. (STAAR SURGICAL CO) — low confidence, target: 2024-03-31
FAQ
What type of filing is this and who filed it?
This is an SC 13G/A (Amendment No. 3) filing, which is an amendment to a Schedule 13G. It was filed by Baillie Gifford & Co regarding their ownership in STAAR SURGICAL COMPANY.
What is the key change reported in this amendment?
The key change is that Baillie Gifford & Co's beneficial ownership of STAAR SURGICAL COMPANY's common stock has decreased to 4,997,058 shares, representing 10.1% of the class, as of December 29, 2023.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 29, 2023, as stated in the filing.
What is the CUSIP number for STAAR SURGICAL COMPANY's common stock?
The CUSIP number for STAAR SURGICAL COMPANY's common stock is 852312305, as listed in the filing.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), indicated by the 'X' in the appropriate box on the cover page.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 26, 2024 regarding STAAR SURGICAL CO (STAA).