American International Group Inc. lowered its stake in shares of STAAR Surgical (NASDAQ:STAA) by 3.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 28,033 shares of the medical instruments supplier’s stock after selling 908 shares during the period. American International Group Inc. owned approximately 0.06% of STAAR Surgical worth $958,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantum Capital Management grew its stake in shares of STAAR Surgical by 45.8% during the first quarter. Quantum Capital Management now owns 72,655 shares of the medical instruments supplier’s stock valued at $2,484,000 after purchasing an additional 22,809 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of STAAR Surgical during the first quarter valued at approximately $186,000. Comerica Bank grew its stake in shares of STAAR Surgical by 7.5% during the first quarter. Comerica Bank now owns 37,197 shares of the medical instruments supplier’s stock valued at $1,377,000 after purchasing an additional 2,600 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of STAAR Surgical by 371.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 32,502 shares of the medical instruments supplier’s stock valued at $1,112,000 after purchasing an additional 25,614 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of STAAR Surgical by 4.4% during the first quarter. Rhumbline Advisers now owns 71,947 shares of the medical instruments supplier’s stock valued at $2,460,000 after purchasing an additional 3,038 shares during the last quarter. 89.59% of the stock is owned by institutional investors and hedge funds.
In other STAAR Surgical news, CEO Caren L. Mason sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $36.25, for a total value of $271,875.00. Following the transaction, the chief executive officer now directly owns 44,013 shares of the company’s stock, valued at $1,595,471.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Broadwood Partners, L.P. acquired 100,000 shares of STAAR Surgical stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of $22.23 per share, for a total transaction of $2,223,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 17,730 shares of company stock worth $655,538. Insiders own 3.90% of the company’s stock.Several research firms have recently commented on STAA. Zacks Investment Research cut shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. BidaskClub raised shares of STAAR Surgical from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. ValuEngine cut shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Finally, Canaccord Genuity reissued a “buy” rating and set a $38.00 price target (down from $43.00) on shares of STAAR Surgical in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the stock. STAAR Surgical presently has a consensus rating of “Buy” and an average price target of $40.33.
Shares of STAA stock opened at $27.08 on Friday. STAAR Surgical has a 52-week low of $21.70 and a 52-week high of $54.00. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 96.71 and a beta of 2.23. The company has a current ratio of 5.41, a quick ratio of 4.83 and a debt-to-equity ratio of 0.04.
STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. STAAR Surgical had a net margin of 4.44% and a return on equity of 13.22%. The firm had revenue of $32.58 million for the quarter, compared to analysts’ expectations of $32.40 million. During the same period last year, the firm earned $0.01 earnings per share. As a group, equities analysts anticipate that STAAR Surgical will post 0.33 earnings per share for the current year.
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STAAR Surgical Profile
STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and delivery systems to deliver the lenses into the eye. The company provides Visian implantable collamer lenses (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.
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