STAAR Surgical (NASDAQ:STAA) Shares Acquired by Covestor Ltd

Covestor Ltd lifted its stake in shares of STAAR Surgical (NASDAQ:STAA) by 38.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,690 shares of the medical instruments supplier’s stock after acquiring an additional 754 shares during the quarter. Covestor Ltd’s holdings in STAAR Surgical were worth $103,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Broadwood Capital Inc. increased its stake in shares of STAAR Surgical by 13.7% during the fourth quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock valued at $328,886,000 after acquiring an additional 1,273,408 shares during the period. Vanguard Group Inc. boosted its holdings in STAAR Surgical by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,468,710 shares of the medical instruments supplier’s stock worth $170,678,000 after buying an additional 43,083 shares in the last quarter. Defender Capital LLC. boosted its holdings in STAAR Surgical by 1.1% during the first quarter. Defender Capital LLC. now owns 730,387 shares of the medical instruments supplier’s stock worth $27,959,000 after buying an additional 7,855 shares in the last quarter. Yunqi Capital Ltd boosted its holdings in STAAR Surgical by 162.0% during the first quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier’s stock worth $19,726,000 after buying an additional 318,600 shares in the last quarter. Finally, Norges Bank bought a new stake in STAAR Surgical during the fourth quarter worth approximately $13,615,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on STAA. BTIG Research raised their target price on shares of STAAR Surgical from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Monday, July 15th. Morgan Stanley lowered shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $50.00 to $37.00 in a research note on Monday, July 15th. Canaccord Genuity Group reduced their price objective on shares of STAAR Surgical from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Finally, Mizuho lifted their price objective on shares of STAAR Surgical from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $48.00.

STAAR Surgical Trading Down 3.1 %

STAAR Surgical stock traded down $1.32 on Tuesday, reaching $41.57. 121,869 shares of the stock were exchanged, compared to its average volume of 672,703. The stock has a market cap of $2.04 billion, a PE ratio of 135.10 and a beta of 0.59. STAAR Surgical has a twelve month low of $26.66 and a twelve month high of $58.35. The firm has a fifty day moving average price of $42.57 and a two-hundred day moving average price of $39.09.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The firm had revenue of $77.40 million for the quarter, compared to analyst estimates of $75.34 million. STAAR Surgical had a return on equity of 6.83% and a net margin of 4.69%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Equities analysts anticipate that STAAR Surgical will post 0.08 EPS for the current fiscal year.

STAAR Surgical 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.