Allspring Global Investments Holdings LLC cut its stake in STAAR Surgical (NASDAQ:STAA – Get Rating) by 11.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,088 shares of the medical instruments supplier’s stock after selling 682 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in STAAR Surgical were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. Wipfli Financial Advisors LLC acquired a new position in STAAR Surgical during the third quarter worth $79,000. Versor Investments LP acquired a new position in STAAR Surgical during the third quarter worth $304,000. Raymond James & Associates increased its position in STAAR Surgical by 4.1% during the third quarter. Raymond James & Associates now owns 15,373 shares of the medical instruments supplier’s stock worth $1,085,000 after buying an additional 605 shares during the last quarter. Calamos Advisors LLC acquired a new position in STAAR Surgical during the third quarter worth $4,172,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in STAAR Surgical by 264.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 496 shares of the medical instruments supplier’s stock valued at $35,000 after acquiring an additional 360 shares during the period. 97.55% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have issued reports on STAA. Needham & Company LLC decreased their price target 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. UBS Group decreased their price target on shares of STAAR Surgical from $97.00 to $88.00 and set a “buy” rating for the company in a report on Friday, October 14th. Stifel Nicolaus began coverage on shares of STAAR Surgical in a report on Wednesday, December 7th. They set a “hold” rating and a $60.00 price target for the company. Canaccord Genuity Group upped their price target on shares of STAAR Surgical from $76.00 to $79.00 and gave the company a “buy” rating in a report on Friday, January 20th. Finally, StockNews.com began coverage on shares of STAAR Surgical in a report on Wednesday, October 12th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.80.
STAAR Surgical Stock Performance
STAAR Surgical (NASDAQ:STAA – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The medical instruments supplier reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.12. The firm had revenue of $76.05 million during the quarter, compared to analysts’ expectations of $74.95 million. STAAR Surgical had a net margin of 13.54% and a return on equity of 15.13%. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 earnings per share. Research analysts forecast that STAAR Surgical will post 0.83 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 51,985 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was purchased at an average price of $47.91 per share, for a total transaction of $2,490,601.35. Following the completion of the purchase, the insider now directly owns 8,643,992 shares in the company, valued at $414,133,656.72. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.
STAAR Surgical Company Profile
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.
- Get a free copy of the StockNews.com research report on STAAR Surgical (STAA)
- Pliant Therapeutics Gaps 34% Higher: More Upside To Come?
- How Will Early 2023 Layoffs Affect These 5 Biotech Stocks?
- Is the Pain Over for Baudax Bio Investors after a 70% Spike?
- Will Rocket Lab’s First U.S. Launch Send Stock Into Stratosphere?
- When Will Crane Holdings Take Flight?
Receive News & Ratings for STAAR Surgical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STAAR Surgical and related companies with MarketBeat.com's FREE daily email newsletter.