Rice Hall James & Associates LLC lowered its stake in shares of STAAR Surgical (NASDAQ:STAA) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,444 shares of the medical instruments supplier’s stock after selling 2,075 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.11% of STAAR Surgical worth $1,588,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Defender Capital LLC. grew its stake in shares of STAAR Surgical by 10.2% during the 1st quarter. Defender Capital LLC. now owns 524,686 shares of the medical instruments supplier’s stock valued at $18,547,000 after acquiring an additional 48,400 shares during the period. Principal Financial Group Inc. increased its position in shares of STAAR Surgical by 9.4% during the fourth quarter. Principal Financial Group Inc. now owns 283,010 shares of the medical instruments supplier’s stock worth $9,032,000 after acquiring an additional 24,424 shares during the last quarter. Chicago Equity Partners LLC increased its position in shares of STAAR Surgical by 14.6% during the fourth quarter. Chicago Equity Partners LLC now owns 78,895 shares of the medical instruments supplier’s stock worth $2,518,000 after acquiring an additional 10,060 shares during the last quarter. Bristol Advisors LLC purchased a new stake in shares of STAAR Surgical during the fourth quarter worth about $702,000. Finally, Geode Capital Management LLC increased its position in shares of STAAR Surgical by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 407,917 shares of the medical instruments supplier’s stock worth $13,016,000 after acquiring an additional 5,146 shares during the last quarter. Institutional investors own 89.59% of the company’s stock.
A number of analysts have recently issued reports on the company. Zacks Investment Research lowered STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. BidaskClub cut STAAR Surgical from a “hold” rating to a “sell” rating in a report on Saturday, May 18th. ValuEngine cut STAAR Surgical from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $38.00 price target (down previously from $43.00) on shares of STAAR Surgical in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $40.33.
In other news, major shareholder Broadwood Partners, L.P. bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average price of $22.23 per share, with a total value of $2,223,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Keith Holliday sold 2,084 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $36.22, for a total value of $75,482.48. Following the completion of the transaction, the chief technology officer now directly owns 40,239 shares in the company, valued at approximately $1,457,456.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,730 shares of company stock worth $655,538. 3.90% of the stock is owned by corporate insiders.
NASDAQ:STAA traded down $0.42 during midday trading on Wednesday, hitting $23.58. 319,317 shares of the stock were exchanged, compared to its average volume of 434,176. STAAR Surgical has a one year low of $21.70 and a one year high of $54.00. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 84.21 and a beta of 2.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.41 and a quick ratio of 4.83.
STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, May 1st. The medical instruments supplier reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. STAAR Surgical had a return on equity of 13.22% and a net margin of 4.44%. The firm had revenue of $32.58 million for the quarter, compared to analysts’ expectations of $32.40 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. On average, sell-side analysts expect that STAAR Surgical will post 0.3 EPS for the current year.
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STAAR Surgical Company Profile
STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and delivery systems to deliver the lenses into the eye. The company provides Visian implantable collamer lenses (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.
Further Reading: 52-Week High/Low
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