Vanguard Group Inc. decreased its holdings in shares of STAAR Surgical Company (NASDAQ:STAA – Free Report) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,226,563 shares of the medical instruments supplier’s stock after selling 42,560 shares during the quarter. Vanguard Group Inc. owned about 0.08% of STAAR Surgical worth $97,591,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Amalgamated Bank grew its position in shares of STAAR Surgical by 3.6% during the 3rd quarter. Amalgamated Bank now owns 14,609 shares of the medical instruments supplier’s stock worth $393,000 after buying an additional 514 shares during the period. Invesco Ltd. grew its position in shares of STAAR Surgical by 0.6% during the 3rd quarter. Invesco Ltd. now owns 150,896 shares of the medical instruments supplier’s stock worth $4,055,000 after buying an additional 956 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of STAAR Surgical by 2,605.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 1,016 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of STAAR Surgical by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock worth $518,000 after buying an additional 1,267 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of STAAR Surgical by 3.6% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 57,625 shares of the medical instruments supplier’s stock worth $1,546,000 after buying an additional 1,979 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on STAA. Morgan Stanley initiated coverage on shares of STAAR Surgical in a research report on Friday, January 16th. They set an “underweight” rating and a $13.00 price target for the company. Weiss Ratings cut shares of STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. Wells Fargo & Company decreased their price objective on shares of STAAR Surgical from $30.75 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, March 5th. Stifel Nicolaus decreased their price objective on shares of STAAR Surgical from $19.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday, March 4th. Finally, Wedbush boosted their price objective on shares of STAAR Surgical from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, STAAR Surgical has a consensus rating of “Hold” and a consensus target price of $19.93.
Insider Buying and Selling at STAAR Surgical
In related news, Director Broadwood Partners, L.P. purchased 316,017 shares of STAAR Surgical stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $18.61 per share, for a total transaction of $5,881,076.37. Following the completion of the acquisition, the director directly owned 16,123,842 shares of the company’s stock, valued at $300,064,699.62. This represents a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 670,213 shares of company stock valued at $12,266,249 in the last ninety days. 39.90% of the stock is owned by corporate insiders.
STAAR Surgical Stock Performance
Shares of NASDAQ STAA opened at $29.40 on Thursday. The stock has a market cap of $1.46 billion, a P/E ratio of -18.04 and a beta of 1.20. The firm has a 50 day moving average price of $22.22 and a 200 day moving average price of $22.54. STAAR Surgical Company has a 52-week low of $15.59 and a 52-week high of $30.81.
STAAR Surgical (NASDAQ:STAA – Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The firm had revenue of $93.52 million during the quarter, compared to analysts’ expectations of $78.72 million. STAAR Surgical had a negative net margin of 33.60% and a negative return on equity of 10.03%. The business’s revenue for the quarter was up 119.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.10) earnings per share. Analysts predict that STAAR Surgical Company will post -0.03 earnings per share for the current fiscal year.
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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.
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