STAAR Surgical (NASDAQ:STAA – Get Rating) VP James E. Francese sold 35,425 shares of the stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $75.00, for a total value of $2,656,875.00. Following the sale, the vice president now directly owns 34,908 shares of the company's stock, valued at $2,618,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
STAAR Surgical Trading Down 4.2 %
Shares of NASDAQ:STAA traded down $3.16 on Thursday, reaching $71.85. 423,882 shares of the company traded hands, compared to its average volume of 474,956. The business's 50-day simple moving average is $88.92 and its 200 day simple moving average is $74.92. STAAR Surgical has a 52 week low of $49.03 and a 52 week high of $130.40. The stock has a market capitalization of $3.45 billion, a P/E ratio of 111.96 and a beta of 1.04.
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STAAR Surgical (NASDAQ:STAA – Get Rating) last announced its quarterly earnings data on Wednesday, August 10th. The medical instruments supplier reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.12. STAAR Surgical had a return on equity of 13.99% and a net margin of 12.84%. The firm had revenue of $81.10 million for the quarter, compared to analysts' expectations of $80.12 million. During the same period last year, the firm earned $0.19 earnings per share. The company's revenue for the quarter was up 30.0% compared to the same quarter last year. Sell-side analysts expect that STAAR Surgical will post 0.75 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC bought a new stake in shares of STAAR Surgical in the first quarter worth about $32,339,000. Artisan Partners Limited Partnership lifted its holdings in shares of STAAR Surgical by 93.0% during the second quarter. Artisan Partners Limited Partnership now owns 566,249 shares of the medical instruments supplier's stock valued at $40,164,000 after purchasing an additional 272,905 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of STAAR Surgical by 50.2% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 611,122 shares of the medical instruments supplier's stock valued at $43,347,000 after purchasing an additional 204,257 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of STAAR Surgical by 140.9% during the second quarter. Goldman Sachs Group Inc. now owns 333,228 shares of the medical instruments supplier's stock valued at $23,636,000 after purchasing an additional 194,888 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its holdings in shares of STAAR Surgical by 21.1% during the first quarter. Geneva Capital Management LLC now owns 909,877 shares of the medical instruments supplier's stock valued at $72,708,000 after purchasing an additional 158,452 shares during the last quarter. 96.38% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently commented on STAA. Jefferies Financial Group lowered their target price on STAAR Surgical from $165.00 to $125.00 in a research note on Thursday, August 11th. BTIG Research lifted their target price on shares of STAAR Surgical from $98.00 to $103.00 in a research note on Thursday, August 11th. Canaccord Genuity Group boosted their price objective on STAAR Surgical from $89.00 to $97.00 in a research note on Thursday, August 11th. Benchmark raised their price objective on shares of STAAR Surgical from $97.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, August 11th. Finally, Needham & Company LLC boosted their price target on shares of STAAR Surgical from $87.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, August 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $106.83.
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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