Yunqi Capital Ltd Has $67.18 Million Stock Position in STAAR Surgical Company $STAA

Yunqi Capital Ltd raised its stake in shares of STAAR Surgical Company (NASDAQ:STAA) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,500,061 shares of the medical instruments supplier’s stock after buying an additional 88,773 shares during the quarter. STAAR Surgical comprises approximately 39.3% of Yunqi Capital Ltd’s holdings, making the stock its largest position. Yunqi Capital Ltd owned about 0.05% of STAAR Surgical worth $67,177,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of STAA. Caitong International Asset Management Co. Ltd lifted its holdings in shares of STAAR Surgical by 2,605.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 1,016 shares in the last quarter. Morningstar Investment Management LLC bought a new position in shares of STAAR Surgical during the third quarter worth $1,070,000. CANADA LIFE ASSURANCE Co grew its stake in STAAR Surgical by 3.6% during the third quarter. CANADA LIFE ASSURANCE Co now owns 57,625 shares of the medical instruments supplier’s stock valued at $1,546,000 after acquiring an additional 1,979 shares in the last quarter. Water Island Capital LLC purchased a new position in STAAR Surgical during the third quarter valued at $17,689,000. Finally, Prelude Capital Management LLC bought a new stake in STAAR Surgical in the 3rd quarter valued at $4,173,000. Institutional investors own 96.70% of the company’s stock.

Wall Street Analyst Weigh In

STAA has been the topic of several research analyst reports. Canaccord Genuity Group decreased their price target on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating on the stock in a research note on Thursday, January 15th. Wedbush started coverage on STAAR Surgical in a report on Tuesday, February 3rd. They issued a “neutral” rating and a $26.00 target price on the stock. Jefferies Financial Group decreased their target price on STAAR Surgical from $28.00 to $21.50 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. BTIG Research reissued a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Tuesday, January 6th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $19.21.

Insider Transactions at STAAR Surgical

In related news, Director Broadwood Partners, L.P. acquired 316,017 shares of the stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $18.61 per share, with a total value of $5,881,076.37. Following the purchase, the director directly owned 16,123,842 shares of the company’s stock, valued at approximately $300,064,699.62. This trade represents a 2.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased 1,104,351 shares of company stock worth $21,690,426 in the last quarter. Corporate insiders own 0.59% of the company’s stock.

STAAR Surgical Stock Down 1.3%

STAA stock opened at $17.85 on Wednesday. The company has a fifty day simple moving average of $18.96 and a two-hundred day simple moving average of $23.53. STAAR Surgical Company has a 52 week low of $14.69 and a 52 week high of $30.81. The firm has a market capitalization of $883.81 million, a P/E ratio of -10.95 and a beta of 1.04.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.51). The business had revenue of $57.80 million during the quarter, compared to the consensus estimate of $75.54 million. STAAR Surgical had a negative return on equity of 10.03% and a negative net margin of 33.60%.The business’s revenue was up 18.0% on a year-over-year basis. As a group, analysts anticipate that STAAR Surgical Company will post -1.14 EPS for the current 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. 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.