SG Americas Securities LLC Lowers Stock Position in STAAR Surgical Company $STAA

SG Americas Securities LLC cut its stake in shares of STAAR Surgical Company (NASDAQ:STAA) by 76.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,300 shares of the medical instruments supplier’s stock after selling 19,960 shares during the period. SG Americas Securities LLC’s holdings in STAAR Surgical were worth $118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in STAA. Caitong International Asset Management Co. Ltd lifted its holdings in shares of STAAR Surgical by 2,605.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after acquiring an additional 1,016 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in STAAR Surgical by 375.0% in the 2nd 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. increased its holdings in STAAR Surgical by 9,928.9% in the 3rd 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. acquired a new stake in STAAR Surgical in the 3rd quarter valued at approximately $208,000. Finally, Amundi purchased a new stake in STAAR Surgical in the third quarter valued at approximately $251,000. 96.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Piper Sandler upped their price target on STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Canaccord Genuity Group lifted their price objective on STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Weiss Ratings upgraded STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 25th. Wells Fargo & Company increased their target price on STAAR Surgical from $16.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, May 15th. Finally, Wedbush restated an “outperform” rating and set a $40.00 target price on shares of STAAR Surgical in a report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.81.

STAAR Surgical Trading Up 0.1%

Shares of STAA stock opened at $27.78 on Tuesday. STAAR Surgical Company has a fifty-two week low of $15.59 and a fifty-two week high of $35.87. The company has a 50 day moving average price of $29.39 and a 200 day moving average price of $23.70. The stock has a market capitalization of $1.38 billion, a P/E ratio of -64.60 and a beta of 1.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12.

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

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.