Perigon Wealth Management LLC Buys 703 Shares of STAAR Surgical (NASDAQ:STAA)

Perigon Wealth Management LLC boosted its stake in shares of STAAR Surgical (NASDAQ:STAA) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,288 shares of the medical instruments supplier’s stock after buying an additional 703 shares during the quarter. Perigon Wealth Management LLC’s holdings in STAAR Surgical were worth $227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STAA. Metropolitan Life Insurance Co NY raised its holdings in shares of STAAR Surgical by 6.4% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,052 shares of the medical instruments supplier’s stock valued at $148,000 after purchasing an additional 184 shares in the last quarter. Sei Investments Co. raised its holdings in shares of STAAR Surgical by 0.6% in the 2nd quarter. Sei Investments Co. now owns 34,969 shares of the medical instruments supplier’s stock valued at $2,484,000 after purchasing an additional 195 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of STAAR Surgical by 18.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,287 shares of the medical instruments supplier’s stock valued at $102,000 after purchasing an additional 202 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of STAAR Surgical by 10.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,123 shares of the medical instruments supplier’s stock valued at $103,000 after purchasing an additional 205 shares in the last quarter. Finally, Evermay Wealth Management LLC raised its holdings in shares of STAAR Surgical by 100.0% in the 1st quarter. Evermay Wealth Management LLC now owns 600 shares of the medical instruments supplier’s stock valued at $38,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 96.70% of the company’s stock.

STAAR Surgical Price Performance

STAA stock opened at $46.34 on Thursday. The firm’s fifty day simple moving average is $37.54 and its 200-day simple moving average is $35.31. The company has a market capitalization of $2.26 billion, a P/E ratio of 107.77 and a beta of 0.86. STAAR Surgical has a 12 month low of $26.66 and a 12 month high of $73.13.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings results on Monday, February 26th. The medical instruments supplier reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). STAAR Surgical had a return on equity of 8.73% and a net margin of 6.62%. The firm had revenue of $76.27 million for the quarter, compared to analysts’ expectations of $75.94 million. During the same period last year, the company posted $0.04 earnings per share. The business’s quarterly revenue was up 19.1% on a year-over-year basis. As a group, sell-side analysts forecast that STAAR Surgical will post 0.03 earnings per share for the current year.

Analysts Set New Price Targets

STAA has been the subject of several recent analyst reports. Piper Sandler reduced their price objective on shares of STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price objective on shares of STAAR Surgical in a research note on Monday, April 1st. Canaccord Genuity Group boosted their price objective on shares of STAAR Surgical from $32.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Thursday, April 4th. Finally, Mizuho boosted their price objective on shares of STAAR Surgical from $45.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.38.

Insider Buying and Selling

In other news, Director Aimee S. Weisner purchased 1,750 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $38.11 per share, with a total value of $66,692.50. Following the completion of the acquisition, the director now owns 10,864 shares of the company’s stock, valued at approximately $414,027.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

About STAAR Surgical

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.