Truist Financial Corp Takes $268,000 Position in STAAR Surgical (NASDAQ:STAA)

Truist Financial Corp purchased a new position in shares of STAAR Surgical (NASDAQ:STAA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,624 shares of the medical instruments supplier’s stock, valued at approximately $268,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in STAAR Surgical by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,468,710 shares of the medical instruments supplier’s stock worth $170,678,000 after acquiring an additional 43,083 shares during the period. GAMMA Investing LLC increased its holdings in STAAR Surgical by 313.9% in the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 992 shares during the last quarter. Principal Financial Group Inc. increased its holdings in STAAR Surgical by 7.7% in the first quarter. Principal Financial Group Inc. now owns 302,669 shares of the medical instruments supplier’s stock valued at $11,586,000 after purchasing an additional 21,662 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in STAAR Surgical by 17.8% during the first quarter. Perigon Wealth Management LLC now owns 8,586 shares of the medical instruments supplier’s stock worth $329,000 after buying an additional 1,298 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of STAAR Surgical by 3.1% during the 1st quarter. BNP Paribas Financial Markets now owns 290,243 shares of the medical instruments supplier’s stock worth $11,111,000 after buying an additional 8,696 shares during the period. 96.70% of the stock is owned by institutional investors.

Insider Activity

In other STAAR Surgical news, Director Arthur C. Butcher bought 1,315 shares of STAAR Surgical stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $37.99 per share, for a total transaction of $49,956.85. Following the completion of the acquisition, the director now 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 legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

STAAR Surgical Trading Up 0.4 %

STAA stock opened at $31.06 on Friday. The stock has a 50-day moving average price of $33.10 and a two-hundred day moving average price of $39.77. STAAR Surgical has a 1 year low of $26.66 and a 1 year high of $52.68. The stock has a market cap of $1.53 billion, a PE ratio of 100.19 and a beta of 0.59.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The firm had revenue of $99.01 million for 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%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share. On average, analysts forecast that STAAR Surgical will post 0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley lowered shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $50.00 to $37.00 in a research note on Monday, July 15th. BTIG Research boosted their price target on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a report on Monday, July 15th. Stifel Nicolaus lowered their price objective on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Canaccord Genuity Group reduced their target price on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.