Chicago Equity Partners LLC raised its position in shares of STAAR Surgical (NASDAQ:STAA) by 49.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,835 shares of the medical instruments supplier’s stock after buying an additional 22,918 shares during the quarter. Chicago Equity Partners LLC owned 0.16% of STAAR Surgical worth $3,304,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of STAA. Engineers Gate Manager LP increased its holdings in STAAR Surgical by 79.6% in the third quarter. Engineers Gate Manager LP now owns 12,034 shares of the medical instruments supplier’s stock worth $578,000 after buying an additional 5,334 shares during the last quarter. Parallel Advisors LLC increased its holdings in STAAR Surgical by 31.3% in the third quarter. Parallel Advisors LLC now owns 21,869 shares of the medical instruments supplier’s stock worth $1,050,000 after buying an additional 5,208 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in STAAR Surgical during the third quarter valued at approximately $222,000. Gilder Gagnon Howe & Co. LLC acquired a new position in STAAR Surgical during the third quarter valued at approximately $1,117,000. Finally, Hodges Capital Management Inc. acquired a new position in STAAR Surgical during the third quarter valued at approximately $10,052,000. 80.26% of the stock is owned by institutional investors.
Several brokerages have commented on STAA. Zacks Investment Research upgraded STAAR Surgical from a “hold” rating to a “strong-buy” rating and set a $51.00 price target on the stock in a report on Thursday. BidaskClub upgraded STAAR Surgical from a “buy” rating to a “strong-buy” rating in a report on Thursday. Canaccord Genuity reiterated a “buy” rating and set a $43.00 price target (up previously from $32.00) on shares of STAAR Surgical in a report on Thursday, August 2nd. Finally, Benchmark began coverage on STAAR Surgical in a report on Monday, August 6th. They set a “buy” rating and a $45.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $45.25.
Shares of STAA stock opened at $47.00 on Friday. STAAR Surgical has a 12 month low of $13.60 and a 12 month high of $54.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.76 and a current ratio of 5.35. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 4,700.00 and a beta of 2.05.
STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.06. STAAR Surgical had a return on equity of 14.80% and a net margin of 3.17%. The company had revenue of $31.77 million for the quarter, compared to the consensus estimate of $30.10 million. During the same quarter last year, the company posted $0.03 earnings per share. On average, sell-side analysts anticipate that STAAR Surgical will post 0.09 earnings per share for the current fiscal year.
In other STAAR Surgical news, Director William P. Wall sold 5,000 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $41.35, for a total transaction of $206,750.00. Following the transaction, the director now owns 16,235 shares in the company, valued at $671,317.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.90% of the company’s stock.
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STAAR Surgical 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.
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