Louisiana State Employees Retirement System Takes Position in STAAR Surgical Company $STAA

Louisiana State Employees Retirement System acquired a new stake in STAAR Surgical Company (NASDAQ:STAA) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 22,100 shares of the medical instruments supplier’s stock, valued at approximately $413,000.

Several other hedge funds have also added to or reduced their stakes in STAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in STAAR Surgical by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock worth $518,000 after acquiring an additional 1,267 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of STAAR Surgical by 33.4% in the first quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier’s stock worth $9,606,000 after acquiring an additional 136,390 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of STAAR Surgical by 11.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,347 shares of the medical instruments supplier’s stock worth $2,175,000 after acquiring an additional 12,841 shares in the last quarter. Creative Planning raised its position in shares of STAAR Surgical by 19.9% during the second quarter. Creative Planning now owns 15,695 shares of the medical instruments supplier’s stock worth $263,000 after purchasing an additional 2,606 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of STAAR Surgical by 183.2% during the second quarter. JPMorgan Chase & Co. now owns 153,371 shares of the medical instruments supplier’s stock worth $2,574,000 after purchasing an additional 99,218 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Stock Up 6.0%

STAA stock opened at $28.15 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.12 and a quick ratio of 4.31. The stock has a market capitalization of $1.40 billion, a P/E ratio of -65.46 and a beta of 1.23. STAAR Surgical Company has a fifty-two week low of $15.59 and a fifty-two week high of $35.87. The business has a 50-day moving average of $29.29 and a 200-day moving average of $23.63.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $93.52 million for the quarter, compared to analyst estimates of $78.72 million. During the same quarter last year, the firm earned ($1.10) EPS. STAAR Surgical’s revenue for the quarter was up 119.6% compared to the same quarter last year. On average, sell-side analysts anticipate that STAAR Surgical Company will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on STAA shares. Stifel Nicolaus boosted their price objective on STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings raised shares of STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 25th. Wall Street Zen upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating in a report on Sunday. Canaccord Genuity Group increased their price objective on shares of STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Mizuho increased their price objective on shares of STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, STAAR Surgical has an average rating of “Hold” and a consensus target price 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.