Nicholas Company Inc. purchased a new position in shares of STAAR Surgical (NASDAQ:STAA – Get Rating) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 63,175 shares of the medical instruments supplier's stock, valued at approximately $5,048,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Allegheny Financial Group LTD acquired a new position in shares of STAAR Surgical during the 4th quarter worth $25,000. Rise Advisors LLC acquired a new position in shares of STAAR Surgical during the 4th quarter worth $25,000. Covestor Ltd acquired a new position in shares of STAAR Surgical during the 4th quarter worth $39,000. Point72 Hong Kong Ltd acquired a new position in shares of STAAR Surgical during the 4th quarter worth $100,000. Finally, Meeder Asset Management Inc. grew its stake in shares of STAAR Surgical by 815.0% during the 1st quarter. Meeder Asset Management Inc. now owns 1,345 shares of the medical instruments supplier's stock worth $107,000 after purchasing an additional 1,198 shares during the period. 89.93% of the stock is owned by institutional investors and hedge funds.
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Insider Activity
In other news, CTO Keith Holliday sold 16,582 shares of the company's stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $106.29, for a total transaction of $1,762,500.78. Following the completion of the transaction, the chief technology officer now owns 19,437 shares of the company's stock, valued at approximately $2,065,958.73. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.60% of the company's stock.
STAAR Surgical Trading Up 0.3 %
NASDAQ:STAA opened at $96.30 on Tuesday. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 143.73 and a beta of 1.09. The company's 50-day moving average is $79.53 and its two-hundred day moving average is $71.93. STAAR Surgical has a 12-month low of $49.03 and a 12-month high of $163.08.
STAAR Surgical (NASDAQ:STAA – Get Rating) last released its earnings results on Wednesday, August 10th. The medical instruments supplier reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The company had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.12 million. STAAR Surgical had a net margin of 12.84% and a return on equity of 13.99%. The firm's quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. On average, equities research analysts forecast that STAAR Surgical will post 0.68 earnings per share for the current fiscal year.
Analyst Ratings Changes
STAA has been the topic of several recent research reports. BTIG Research boosted their price objective on shares of STAAR Surgical from $98.00 to $103.00 in a research report on Thursday, August 11th. Canaccord Genuity Group boosted their price objective on shares of STAAR Surgical from $81.00 to $89.00 and gave the stock a "buy" rating in a research report on Tuesday, April 26th. Jefferies Financial Group decreased their price objective on shares of STAAR Surgical from $165.00 to $125.00 in a research report on Thursday, August 11th. Needham & Company LLC boosted their price objective on shares of STAAR Surgical from $87.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, August 11th. Finally, Benchmark boosted their price objective on shares of STAAR Surgical from $97.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, August 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, STAAR Surgical currently has an average rating of "Moderate Buy" and an average price target of $106.83.
STAAR Surgical Profile
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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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