STAAR Surgical (NASDAQ:STAA) Shares Purchased by Algert Global LLC

Algert Global LLC raised its stake in shares of STAAR Surgical (NASDAQ:STAA) by 13.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,655 shares of the medical instruments supplier’s stock after buying an additional 13,901 shares during the period. Algert Global LLC’s holdings in STAAR Surgical were worth $5,554,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of STAA. Norges Bank acquired a new position in STAAR Surgical during the 4th quarter valued at about $13,615,000. Seven Eight Capital LP increased its stake in STAAR Surgical by 47.0% during the 4th quarter. Seven Eight Capital LP now owns 67,885 shares of the medical instruments supplier’s stock valued at $2,119,000 after buying an additional 21,718 shares during the period. Nebula Research & Development LLC increased its stake in STAAR Surgical by 259.0% during the 4th quarter. Nebula Research & Development LLC now owns 24,551 shares of the medical instruments supplier’s stock valued at $766,000 after buying an additional 17,713 shares during the period. Caxton Associates LP acquired a new position in STAAR Surgical during the 4th quarter valued at about $1,948,000. Finally, Broadwood Capital Inc. increased its stake in STAAR Surgical by 13.7% during the 4th quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock valued at $328,886,000 after buying an additional 1,273,408 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Price Performance

Shares of STAA opened at $37.23 on Monday. STAAR Surgical has a one year low of $26.66 and a one year high of $52.68. The company has a 50-day moving average of $35.14 and a two-hundred day moving average of $40.31. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 120.10 and a beta of 0.58.

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

Analyst Upgrades and Downgrades

STAA has been the subject of several research reports. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, September 19th. Morgan Stanley lowered shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $50.00 to $37.00 in a research report on Monday, July 15th. Stifel Nicolaus reduced 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 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. Finally, BTIG Research raised their price objective on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.57.

Insider Buying and Selling

In related news, Director Arthur C. Butcher purchased 1,315 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost 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 in the company, valued at approximately $159,861.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

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.