Amalgamated Bank lowered its stake in shares of STAAR Surgical (NASDAQ:STAA – Get Rating) by 4.5% during the first quarter, HoldingsChannel reports. The firm owned 32,341 shares of the medical instruments supplier's stock after selling 1,541 shares during the quarter. Amalgamated Bank's holdings in STAAR Surgical were worth $2,584,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the business. Quantum Private Wealth LLC raised its stake in STAAR Surgical by 3.0% in the 1st quarter. Quantum Private Wealth LLC now owns 5,769 shares of the medical instruments supplier's stock valued at $461,000 after acquiring an additional 168 shares during the period. PNC Financial Services Group Inc. raised its stake 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 valued at $102,000 after acquiring an additional 202 shares during the period. Rise Advisors LLC bought a new position in STAAR Surgical during the 4th quarter worth $25,000. Navellier & Associates Inc. increased its position in STAAR Surgical by 5.4% during the 4th quarter. Navellier & Associates Inc. now owns 5,490 shares of the medical instruments supplier's stock worth $501,000 after buying an additional 282 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in STAAR Surgical by 2.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the medical instruments supplier's stock worth $830,000 after buying an additional 300 shares during the period. Institutional investors own 96.38% of the company's stock.
Get STAAR Surgical alerts:Wall Street Analyst Weigh In
STAA has been the topic of several recent research reports. BTIG Research increased their price objective on STAAR Surgical from $98.00 to $103.00 in a research report on Thursday, August 11th. Benchmark increased their price objective on 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 target price on STAAR Surgical from $89.00 to $97.00 in a report on Thursday, August 11th. Jefferies Financial Group reduced their target price on STAAR Surgical from $165.00 to $125.00 in a report on Thursday, August 11th. Finally, Needham & Company LLC increased their target price on STAAR Surgical from $87.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, August 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $106.83.
STAAR Surgical Stock Performance
STAA opened at $73.25 on Friday. The business's fifty day moving average is $89.01 and its 200-day moving average is $74.85. The firm has a market cap of $3.52 billion, a P/E ratio of 109.33 and a beta of 1.04. STAAR Surgical has a 52-week low of $49.03 and a 52-week high of $145.11.STAAR Surgical (NASDAQ:STAA – Get Rating) last released its quarterly earnings data on Wednesday, August 10th. The medical instruments supplier reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.12 million. STAAR Surgical had a return on equity of 13.99% and a net margin of 12.84%. STAAR Surgical's revenue was up 30.0% compared to the same quarter last year. During the same period last year, the firm posted $0.19 earnings per share. On average, research analysts predict that STAAR Surgical will post 0.75 earnings per share for the current fiscal year.
Insider Activity at STAAR Surgical
In related news, CTO Keith Holliday sold 16,582 shares of the firm's stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $106.29, for a total value of $1,762,500.78. Following the sale, the chief technology officer now directly 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 Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by insiders.
About STAAR Surgical
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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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