Assetmark Inc. Boosts Stake in STAAR Surgical (NASDAQ:STAA)

Assetmark Inc. lifted its holdings in shares of STAAR Surgical (NASDAQ:STAAGet Rating) by 81.6% in the third quarter, HoldingsChannel.com reports. The firm owned 454 shares of the medical instruments supplier’s stock after acquiring an additional 204 shares during the quarter. Assetmark Inc.’s holdings in STAAR Surgical were worth $32,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of STAA. BlackRock Inc. lifted its position in STAAR Surgical by 0.6% in the first quarter. BlackRock Inc. now owns 5,654,613 shares of the medical instruments supplier’s stock valued at $451,861,000 after buying an additional 31,657 shares during the last quarter. Baillie Gifford & Co. increased its holdings in STAAR Surgical by 0.7% in the 2nd quarter. Baillie Gifford & Co. now owns 5,285,358 shares of the medical instruments supplier’s stock valued at $374,890,000 after purchasing an additional 38,684 shares during the last quarter. Vanguard Group Inc. increased its holdings in STAAR Surgical by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 5,093,250 shares of the medical instruments supplier’s stock valued at $407,001,000 after purchasing an additional 122,926 shares during the last quarter. State Street Corp raised its position in STAAR Surgical by 3.2% in the first quarter. State Street Corp now owns 1,570,063 shares of the medical instruments supplier’s stock valued at $125,464,000 after purchasing an additional 48,083 shares during the period. Finally, Ensign Peak Advisors Inc lifted its stake in STAAR Surgical by 8.6% during the second quarter. Ensign Peak Advisors Inc now owns 653,480 shares of the medical instruments supplier’s stock worth $46,350,000 after purchasing an additional 51,745 shares in the last quarter. 97.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group cut their price objective on STAAR Surgical from $88.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Needham & Company LLC dropped their price objective on shares of STAAR Surgical from $110.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, November 3rd. Stephens reduced their target price on shares of STAAR Surgical from $91.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, December 28th. Sidoti upgraded shares of STAAR Surgical from a “neutral” rating to a “buy” rating in a research note on Monday, November 7th. Finally, Stifel Nicolaus assumed coverage on STAAR Surgical in a research note on Wednesday, December 7th. They issued a “hold” rating and a $60.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.80.

STAAR Surgical Price Performance

STAAR Surgical stock opened at $70.63 on Monday. The stock has a market cap of $3.40 billion, a PE ratio of 92.94 and a beta of 1.05. The stock’s fifty day moving average is $59.37 and its two-hundred day moving average is $73.09. STAAR Surgical has a 1-year low of $46.35 and a 1-year high of $112.27.

STAAR Surgical (NASDAQ:STAAGet Rating) last issued its earnings results on Wednesday, November 2nd. The medical instruments supplier reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.12. The business had revenue of $76.05 million for the quarter, compared to analyst estimates of $74.95 million. STAAR Surgical had a return on equity of 15.13% and a net margin of 13.54%. The business’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the company earned $0.13 EPS. On average, research analysts expect that STAAR Surgical will post 0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. acquired 51,985 shares of STAAR Surgical stock in a transaction dated Tuesday, December 27th. The stock was acquired at an average price of $47.91 per share, for a total transaction of $2,490,601.35. Following the transaction, the insider now owns 8,643,992 shares of the company’s stock, valued at $414,133,656.72. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.

STAAR Surgical Company Profile

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STAAR Surgical Co engages in the development, manufacture, production, marketing, and sale of implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It specializes in refractive and cataract solutions. Its products include intraocular lens and implantable collamer lens.

Further Reading

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Institutional Ownership by Quarter for STAAR Surgical (NASDAQ:STAA)

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