King Luther Capital Management Corp Sells 3,573 Shares of STAAR Surgical (NASDAQ:STAA)

King Luther Capital Management Corp lowered its stake in STAAR Surgical (NASDAQ:STAA) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,148 shares of the medical instruments supplier’s stock after selling 3,573 shares during the period. King Luther Capital Management Corp owned 0.13% of STAAR Surgical worth $1,908,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of STAA. Clear Street Markets LLC bought a new stake in shares of STAAR Surgical during the 3rd quarter valued at $29,000. Nisa Investment Advisors LLC boosted its stake in STAAR Surgical by 415.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,445 shares of the medical instruments supplier’s stock worth $98,000 after purchasing an additional 1,971 shares in the last quarter. Covestor Ltd boosted its stake in STAAR Surgical by 82,466.7% in the 3rd quarter. Covestor Ltd now owns 2,477 shares of the medical instruments supplier’s stock worth $100,000 after purchasing an additional 2,474 shares in the last quarter. Van ECK Associates Corp boosted its stake in STAAR Surgical by 44.5% in the 3rd quarter. Van ECK Associates Corp now owns 3,184 shares of the medical instruments supplier’s stock worth $128,000 after purchasing an additional 980 shares in the last quarter. Finally, Quest Partners LLC bought a new position in STAAR Surgical in the 4th quarter worth about $146,000. Institutional investors own 96.70% of the company’s stock.

STAAR Surgical Price Performance

Shares of NASDAQ STAA traded down $0.25 during midday trading on Friday, reaching $41.92. 37,124 shares of the stock traded hands, compared to its average volume of 692,613. The company’s 50 day moving average is $43.72 and its 200 day moving average is $36.12. STAAR Surgical has a one year low of $26.66 and a one year high of $60.79. The stock has a market capitalization of $2.06 billion, a PE ratio of 136.03 and a beta of 0.80.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). STAAR Surgical had a return on equity of 6.83% and a net margin of 4.69%. The business had revenue of $77.40 million during the quarter, compared to analysts’ expectations of $75.34 million. During the same quarter in the previous year, the business earned $0.05 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts forecast that STAAR Surgical will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on STAA shares. Mizuho upped their price target on shares of STAAR Surgical from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price target on shares of STAAR Surgical in a research note on Monday, April 1st. Piper Sandler boosted their target price on STAAR Surgical from $33.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Canaccord Genuity Group decreased their target price on STAAR Surgical from $46.00 to $43.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research report on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.13.

Insider Activity

In other news, Director Aimee S. Weisner purchased 1,750 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $38.11 per share, for a total transaction of $66,692.50. Following the completion of the purchase, the director now owns 10,864 shares in the company, valued at approximately $414,027.04. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

About STAAR Surgical

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.