Metropolitan Life Insurance Co NY decreased its holdings in shares of STAAR Surgical (NASDAQ:STAA – Get Rating) by 85.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,994 shares of the medical instruments supplier's stock after selling 17,033 shares during the period. Metropolitan Life Insurance Co NY's holdings in STAAR Surgical were worth $239,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of STAA. Rise Advisors LLC purchased a new position in shares of STAAR Surgical in the fourth quarter worth $25,000. Covestor Ltd acquired a new position in shares of STAAR Surgical in the fourth quarter valued at about $39,000. Point72 Hong Kong Ltd acquired a new stake in shares of STAAR Surgical during the fourth quarter worth about $100,000. PNC Financial Services Group Inc. increased its holdings in STAAR Surgical by 18.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,287 shares of the medical instruments supplier's stock worth $102,000 after buying an additional 202 shares during the period. Finally, Meeder Asset Management Inc. lifted its stake in 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 valued at $107,000 after acquiring an additional 1,198 shares during the period. Institutional investors and hedge funds own 96.38% of the company's stock.
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STAAR Surgical Price Performance
STAA stock opened at $94.33 on Thursday. STAAR Surgical has a 1 year low of $49.03 and a 1 year high of $162.69. The firm has a market capitalization of $4.53 billion, a PE ratio of 140.79 and a beta of 1.04. The business has a 50 day simple moving average of $86.12 and a 200-day simple moving average of $73.75.
STAAR Surgical (NASDAQ:STAA – Get Rating) last issued its earnings results on Wednesday, August 10th. The medical instruments supplier reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. STAAR Surgical had a return on equity of 13.99% and a net
margin of 12.84%. The business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.12 million. During the same period last year, the company earned $0.19 EPS. The company's revenue for the quarter was up 30.0% on a year-over-year basis. On average, equities research analysts expect that STAAR Surgical will post 0.68 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on STAA shares. BTIG Research lifted their price objective on STAAR Surgical from $98.00 to $103.00 in a research note on Thursday, August 11th. Benchmark upped 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. Canaccord Genuity Group increased their price target on STAAR Surgical from $89.00 to $97.00 in a research report on Thursday, August 11th. Jefferies Financial Group dropped their price target on shares of STAAR Surgical from $165.00 to $125.00 in a research note on Thursday, August 11th. Finally, Needham & Company LLC upped their price target 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. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, STAAR Surgical presently has an average rating of "Moderate Buy" and an average target price of $106.83.
Insider Transactions at STAAR Surgical
In other STAAR Surgical news, CTO Keith Holliday sold 16,582 shares of the firm's stock in a transaction on Monday, August 15th. The stock was sold at an average price of $106.29, for a total transaction of $1,762,500.78. Following the completion of the sale, the chief technology officer now owns 19,437 shares of the company's stock, valued at $2,065,958.73. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company's stock.
STAAR Surgical Company 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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