Principal Financial Group Inc. increased its stake in shares of STAAR Surgical Company (NASDAQ:STAA) by 0.9% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 295,129 shares of the medical instruments supplier’s stock after buying an additional 2,537 shares during the period. Principal Financial Group Inc. owned approximately 0.72% of STAAR Surgical worth $2,893,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Trexquant Investment LP boosted its position in shares of STAAR Surgical by 30.8% in the first quarter. Trexquant Investment LP now owns 22,105 shares of the medical instruments supplier’s stock valued at $217,000 after buying an additional 5,205 shares during the last quarter. American International Group Inc. boosted its stake in shares of STAAR Surgical by 7.1% in the first quarter. American International Group Inc. now owns 24,648 shares of the medical instruments supplier’s stock worth $242,000 after buying an additional 1,631 shares in the last quarter. Strs Ohio acquired a new stake in shares of STAAR Surgical during the first quarter worth $251,000. Candriam Luxembourg S.C.A. acquired a new stake in shares of STAAR Surgical during the first quarter worth $441,000. Finally, Wells Fargo & Company MN boosted its stake in shares of STAAR Surgical by 30.6% in the first quarter. Wells Fargo & Company MN now owns 67,262 shares of the medical instruments supplier’s stock worth $659,000 after buying an additional 15,769 shares in the last quarter. Institutional investors and hedge funds own 75.79% of the company’s stock.
STAAR Surgical Company (STAA) traded up 0.85% during midday trading on Wednesday, hitting $11.90. 166,553 shares of the company traded hands. The stock has a 50 day moving average price of $10.54 and a 200-day moving average price of $9.97. STAAR Surgical Company has a 12-month low of $7.45 and a 12-month high of $12.35. The company’s market cap is $489.19 million.
STAAR Surgical (NASDAQ:STAA) last issued its earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $21.90 million for the quarter, compared to the consensus estimate of $22.15 million. STAAR Surgical had a negative return on equity of 8.69% and a negative net margin of 6.06%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) EPS. Analysts expect that STAAR Surgical Company will post ($0.11) EPS for the current year.
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A number of brokerages recently weighed in on STAA. Canaccord Genuity increased their price target on shares of STAAR Surgical from $9.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. BidaskClub upgraded shares of STAAR Surgical from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th. Benchmark Co. raised their target price on shares of STAAR Surgical from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday. Finally, Zacks Investment Research upgraded shares of STAAR Surgical from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th.
STAAR Surgical Company Profile
STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery.
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