ACT Capital Management LLC Acquires New Shares in STAAR Surgical Company $STAA

ACT Capital Management LLC acquired a new stake in shares of STAAR Surgical Company (NASDAQ:STAA) in the fourth quarter, HoldingsChannel reports. The fund acquired 55,500 shares of the medical instruments supplier’s stock, valued at approximately $1,281,000. STAAR Surgical accounts for about 1.0% of ACT Capital Management LLC’s investment portfolio, making the stock its 21st largest holding.

A number of other institutional investors have also recently bought and sold shares of STAA. Caitong International Asset Management Co. Ltd boosted its position in STAAR Surgical by 2,605.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after purchasing an additional 1,016 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in STAAR Surgical by 375.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock valued at $99,000 after purchasing an additional 4,673 shares during the last quarter. Russell Investments Group Ltd. boosted its position in STAAR Surgical by 9,928.9% during the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock valued at $121,000 after purchasing an additional 4,468 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in STAAR Surgical during the third quarter valued at about $208,000. Finally, Amundi bought a new position in STAAR Surgical during the third quarter valued at about $251,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Trading Up 1.0%

Shares of STAA opened at $29.22 on Thursday. STAAR Surgical Company has a 12-month low of $15.59 and a 12-month high of $35.87. The company has a quick ratio of 4.31, a current ratio of 5.12 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -67.95 and a beta of 1.23. The stock’s 50-day moving average price is $28.15 and its 200 day moving average price is $23.26.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The firm had revenue of $93.52 million for the quarter, compared to analyst estimates of $78.72 million. During the same period in the previous year, the company posted ($1.10) earnings per share. The company’s quarterly revenue was up 119.6% compared to the same quarter last year. As a group, research analysts predict that STAAR Surgical Company will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on STAA. Piper Sandler raised their target price on STAAR Surgical from $16.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Weiss Ratings lowered STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. Wells Fargo & Company raised their target price on STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, May 15th. Mizuho raised their target price on STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Canaccord Genuity Group raised their target price on STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.81.

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.