Arizona State Retirement System Trims Holdings in STAAR Surgical (NASDAQ:STAA)

Arizona State Retirement System trimmed its holdings in STAAR Surgical (NASDAQ:STAA) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,847 shares of the medical instruments supplier’s stock after selling 850 shares during the quarter. Arizona State Retirement System’s holdings in STAAR Surgical were worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Clear Street Markets LLC purchased a new position in shares of STAAR Surgical during the third quarter valued at approximately $29,000. Evermay Wealth Management LLC boosted its holdings in STAAR Surgical by 100.0% in the first quarter. Evermay Wealth Management LLC now owns 600 shares of the medical instruments supplier’s stock worth $38,000 after acquiring an additional 300 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of STAAR Surgical by 131.1% in the first quarter. Lazard Asset Management LLC now owns 684 shares of the medical instruments supplier’s stock worth $54,000 after acquiring an additional 388 shares during the last quarter. UBS Group AG increased its holdings in shares of STAAR Surgical by 130.7% during the second quarter. UBS Group AG now owns 805 shares of the medical instruments supplier’s stock valued at $57,000 after acquiring an additional 456 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of STAAR Surgical by 348.4% in the 2nd quarter. Captrust Financial Advisors now owns 825 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 641 shares during the last quarter. Institutional investors own 96.70% of the company’s stock.

STAAR Surgical Price Performance

Shares of STAAR Surgical stock opened at $46.39 on Friday. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $73.13. The company’s fifty day simple moving average is $38.19 and its 200-day simple moving average is $35.41. The stock has a market capitalization of $2.27 billion, a PE ratio of 107.88 and a beta of 0.86.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Monday, February 26th. The medical instruments supplier reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $76.27 million for the quarter, compared to analysts’ expectations of $75.94 million. STAAR Surgical had a net margin of 6.62% and a return on equity of 8.73%. STAAR Surgical’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 earnings per share. As a group, research analysts anticipate that STAAR Surgical will post 0.03 EPS for the current year.

Analysts Set New Price Targets

STAA has been the subject of a number of analyst reports. Stifel Nicolaus restated a “buy” rating and set a $50.00 price objective on shares of STAAR Surgical in a research note on Monday, April 1st. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Thursday, April 4th. Mizuho increased their target price on STAAR Surgical from $45.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Piper Sandler decreased their price target on STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Finally, Canaccord Genuity Group increased their price objective on STAAR Surgical from $32.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.38.

Insider Activity at STAAR Surgical

In other news, Director Aimee S. Weisner purchased 1,750 shares of the stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $38.11 per share, with a total value of $66,692.50. Following the completion of the acquisition, the director now directly owns 10,864 shares of the company’s stock, valued at $414,027.04. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

STAAR Surgical Company Profile

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 implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia.