STAAR Surgical (NASDAQ:STAA) Stock Position Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in STAAR Surgical (NASDAQ:STAA) by 16.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,008 shares of the medical instruments supplier’s stock after buying an additional 3,758 shares during the period. The Manufacturers Life Insurance Company’s holdings in STAAR Surgical were worth $1,286,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of STAAR Surgical in the 1st quarter worth $2,731,000. Mutual of America Capital Management LLC raised its stake in shares of STAAR Surgical by 214.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 26,459 shares of the medical instruments supplier’s stock worth $1,260,000 after buying an additional 18,051 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of STAAR Surgical by 1.5% during the first quarter. Russell Investments Group Ltd. now owns 36,931 shares of the medical instruments supplier’s stock worth $1,406,000 after purchasing an additional 555 shares during the period. ClariVest Asset Management LLC acquired a new stake in shares of STAAR Surgical during the second quarter worth $1,223,000. Finally, Granite Investment Partners LLC acquired a new stake in shares of STAAR Surgical during the second quarter worth $17,237,000. Institutional investors own 96.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus cut their target price on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Thursday, September 19th. BTIG Research boosted their target price on STAAR Surgical from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Canaccord Genuity Group dropped their price target on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, 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 report on Monday, July 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, STAAR Surgical currently has an average rating of “Hold” and an average target price of $45.57.

Insider Buying and Selling at STAAR Surgical

In other news, Director Arthur C. Butcher bought 1,315 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $37.99 per share, for a total transaction 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 $159,861.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

STAAR Surgical Price Performance

Shares of NASDAQ STAA opened at $31.61 on Friday. The business’s 50-day moving average price is $33.72 and its two-hundred day moving average price is $39.98. STAAR Surgical has a one year low of $26.66 and a one year high of $52.68. The company has a market capitalization of $1.55 billion, a P/E ratio of 92.97 and a beta of 0.59.

STAAR Surgical (NASDAQ:STAA) last issued its 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). STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. The firm had revenue of $99.01 million during the quarter, compared to analysts’ expectations of $95.22 million. During the same quarter last year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that STAAR Surgical will post 0.16 EPS for the current year.

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.