Rhumbline Advisers Has $6.99 Million Position in STAAR Surgical (NASDAQ:STAA)

Rhumbline Advisers grew its position in shares of STAAR Surgical (NASDAQ:STAA) by 0.7% during the second quarter, HoldingsChannel.com reports. The firm owned 146,775 shares of the medical instruments supplier’s stock after purchasing an additional 1,039 shares during the period. Rhumbline Advisers’ holdings in STAAR Surgical were worth $6,988,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in STAAR Surgical by 2.8% during the 4th quarter. Victory Capital Management Inc. now owns 100,279 shares of the medical instruments supplier’s stock worth $3,130,000 after purchasing an additional 2,753 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of STAAR Surgical by 296.0% during the fourth quarter. BNP Paribas Financial Markets now owns 281,547 shares of the medical instruments supplier’s stock worth $8,787,000 after acquiring an additional 210,443 shares during the last quarter. Norges Bank acquired a new position in shares of STAAR Surgical in the fourth quarter worth approximately $13,615,000. Quest Partners LLC bought a new stake in STAAR Surgical in the fourth quarter valued at approximately $146,000. Finally, Cape Investment Advisory Inc. acquired a new stake in STAAR Surgical during the 4th quarter valued at approximately $42,000. 96.70% of the stock is currently owned by institutional investors.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, Director Arthur C. Butcher purchased 1,315 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $37.99 per share, with a total value of $49,956.85. Following the completion of the purchase, the director now directly owns 4,208 shares of the company’s stock, valued at approximately $159,861.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

STAAR Surgical Trading Up 8.0 %

Shares of NASDAQ:STAA opened at $32.38 on Friday. The company has a 50 day moving average of $37.62 and a 200 day moving average of $40.42. The stock has a market cap of $1.59 billion, a P/E ratio of 104.45 and a beta of 0.58. STAAR Surgical has a 12 month low of $26.66 and a 12 month high of $52.68.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The company had revenue of $99.01 million during the quarter, compared to the consensus estimate of $95.22 million. STAAR Surgical had a return on equity of 5.60% and a net margin of 4.99%. STAAR Surgical’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 EPS. On average, equities analysts forecast that STAAR Surgical will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. BTIG Research lifted their price objective on STAAR Surgical from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Morgan Stanley lowered STAAR Surgical from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $50.00 to $37.00 in a research note on Monday, July 15th. Canaccord Genuity Group reduced their price objective on shares of STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Stifel Nicolaus dropped their target price on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, STAAR Surgical currently has an average rating of “Hold” and an average target price of $45.57.

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.