Exchange Traded Concepts LLC Acquires 4,498 Shares of STAAR Surgical (NASDAQ:STAA)

Exchange Traded Concepts LLC raised its holdings in STAAR Surgical (NASDAQ:STAA) by 17.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,020 shares of the medical instruments supplier’s stock after buying an additional 4,498 shares during the quarter. Exchange Traded Concepts LLC’s holdings in STAAR Surgical were worth $1,115,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in STAA. GAMMA Investing LLC grew its stake in shares of STAAR Surgical by 313.9% in the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock worth $50,000 after acquiring an additional 992 shares during the last quarter. Covestor Ltd grew its position in STAAR Surgical by 38.9% in the 1st quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock worth $103,000 after purchasing an additional 754 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of STAAR Surgical during the 2nd quarter worth about $129,000. Larson Financial Group LLC acquired a new position in shares of STAAR Surgical during the second quarter valued at about $130,000. Finally, Truist Financial Corp bought a new stake in shares of STAAR Surgical in the second quarter valued at about $268,000. 96.70% of the stock is owned by institutional investors.

STAAR Surgical Price Performance

STAAR Surgical stock opened at $32.06 on Thursday. The firm has a market capitalization of $1.58 billion, a P/E ratio of 103.42 and a beta of 0.59. The stock has a fifty day moving average price of $33.44 and a two-hundred day moving average price of $39.89. STAAR Surgical has a 52-week low of $26.66 and a 52-week high of $52.68.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results 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 analyst estimates of $95.22 million. STAAR Surgical had a return on equity of 5.60% and a net margin of 4.99%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 EPS. On average, equities research analysts predict that STAAR Surgical will post 0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

STAA has been the topic of several research reports. Stifel Nicolaus lowered their price target on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research note on Thursday, September 19th. Canaccord Genuity Group reduced their target price on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. BTIG Research increased their price objective on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Morgan Stanley downgraded 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 report on Monday, July 15th. 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’s stock. According to MarketBeat, STAAR Surgical has a consensus rating of “Hold” and an average price target of $45.57.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, Director Arthur C. Butcher bought 1,315 shares of STAAR Surgical stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $37.99 per share, with a total value of $49,956.85. Following the acquisition, the director now directly owns 4,208 shares of the company’s stock, valued at $159,861.92. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.00% of the company’s stock.

STAAR Surgical Company Profile

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.