Resona Asset Management Co. Ltd. Increases Stock Position in STAAR Surgical Company $STAA

Resona Asset Management Co. Ltd. boosted its stake in shares of STAAR Surgical Company (NASDAQ:STAA) by 11.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,421,836 shares of the medical instruments supplier’s stock after buying an additional 252,218 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in STAAR Surgical were worth $40,746,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of STAA. Armistice Capital LLC boosted its stake in STAAR Surgical by 244.0% during the first quarter. Armistice Capital LLC now owns 3,000,000 shares of the medical instruments supplier’s stock worth $52,890,000 after buying an additional 2,128,000 shares during the period. Broadwood Capital Inc. boosted its stake in STAAR Surgical by 14.8% during the first quarter. Broadwood Capital Inc. now owns 12,455,264 shares of the medical instruments supplier’s stock worth $219,586,000 after buying an additional 1,606,633 shares during the period. Jupiter Asset Management Ltd. boosted its stake in STAAR Surgical by 50.1% during the first quarter. Jupiter Asset Management Ltd. now owns 566,079 shares of the medical instruments supplier’s stock worth $9,980,000 after buying an additional 188,830 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of STAAR Surgical by 211,284.0% in the first quarter. Jones Financial Companies Lllp now owns 158,538 shares of the medical instruments supplier’s stock valued at $2,795,000 after purchasing an additional 158,463 shares during the period. Finally, Nuveen LLC purchased a new position in shares of STAAR Surgical in the first quarter valued at approximately $2,763,000. Hedge funds and other institutional investors own 96.70% of the company’s stock.

STAAR Surgical Stock Down 0.1%

Shares of STAAR Surgical stock opened at $25.25 on Thursday. STAAR Surgical Company has a 52-week low of $13.50 and a 52-week high of $32.00. The company has a 50 day moving average of $26.79 and a 200 day moving average of $22.16. The company has a market capitalization of $1.25 billion, a P/E ratio of -13.08 and a beta of 0.82.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, November 5th. The medical instruments supplier reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.50. STAAR Surgical had a negative net margin of 42.45% and a negative return on equity of 16.11%. The company had revenue of $94.73 million during the quarter, compared to the consensus estimate of $92.15 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. As a group, research analysts anticipate that STAAR Surgical Company will post -1.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on STAA. Piper Sandler reissued a “neutral” rating on shares of STAAR Surgical in a research note on Monday, October 27th. Mizuho raised their price objective on shares of STAAR Surgical from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Weiss Ratings reissued a “sell (d)” rating on shares of STAAR Surgical in a research note on Wednesday, October 8th. Canaccord Genuity Group reissued a “hold” rating and issued a $28.00 price objective on shares of STAAR Surgical in a research note on Tuesday, October 21st. Finally, Stifel Nicolaus set a $28.00 price objective on shares of STAAR Surgical and gave the company a “hold” rating in a research note on Thursday, August 7th. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $20.67.

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.