AIA Group Ltd reduced its stake in shares of STAAR Surgical (NASDAQ:STAA – Free Report) by 21.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,709 shares of the medical instruments supplier’s stock after selling 10,530 shares during the quarter. AIA Group Ltd owned approximately 0.08% of STAAR Surgical worth $1,555,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. NinePointTwo Capital LLC purchased a new stake in shares of STAAR Surgical during the 2nd quarter worth $258,000. Legacy Advisors LLC raised its stake in STAAR Surgical by 5.0% in the second quarter. Legacy Advisors LLC now owns 5,650 shares of the medical instruments supplier’s stock valued at $297,000 after buying an additional 268 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in STAAR Surgical by 7.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,364 shares of the medical instruments supplier’s stock valued at $1,228,000 after buying an additional 1,652 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in STAAR Surgical by 1.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 398,431 shares of the medical instruments supplier’s stock valued at $20,946,000 after buying an additional 6,061 shares during the last quarter. Finally, Swiss National Bank raised its stake in STAAR Surgical by 1.0% in the second quarter. Swiss National Bank now owns 89,300 shares of the medical instruments supplier’s stock valued at $4,695,000 after buying an additional 900 shares during the last quarter. 96.70% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder Broadwood Partners, L.P. acquired 144,027 shares of STAAR Surgical stock in a transaction that occurred on Thursday, November 2nd. The shares were purchased at an average price of $35.79 per share, for a total transaction of $5,154,726.33. Following the completion of the transaction, the insider now owns 9,613,750 shares in the company, valued at approximately $344,076,112.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 924,910 shares of company stock worth $30,053,238 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.
STAAR Surgical Price Performance
STAAR Surgical (NASDAQ:STAA – Get Free Report) last released its earnings results on Wednesday, November 1st. The medical instruments supplier reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $80.31 million for the quarter, compared to the consensus estimate of $80.65 million. STAAR Surgical had a return on equity of 6.26% and a net margin of 6.27%. On average, equities research analysts anticipate that STAAR Surgical will post 0.44 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on STAA shares. Needham & Company LLC cut STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Morgan Stanley initiated coverage on STAAR Surgical in a report on Monday, December 4th. They issued an “equal weight” rating and a $35.00 price objective on the stock. Stifel Nicolaus cut their price objective on STAAR Surgical from $45.00 to $40.00 and set a “hold” rating on the stock in a report on Friday, September 22nd. StockNews.com raised STAAR Surgical from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Finally, Piper Sandler dropped their target price on STAAR Surgical from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.78.
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 Visian implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.
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