Everence Capital Management Inc. Sells 2,190 Shares of STAAR Surgical (NASDAQ:STAA)

Everence Capital Management Inc. lowered its position in STAAR Surgical (NASDAQ:STAA) by 27.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,820 shares of the medical instruments supplier’s stock after selling 2,190 shares during the period. Everence Capital Management Inc.’s holdings in STAAR Surgical were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new stake in STAAR Surgical in the first quarter worth about $2,731,000. Mutual of America Capital Management LLC lifted its stake in STAAR Surgical by 214.7% in the second quarter. Mutual of America Capital Management LLC now owns 26,459 shares of the medical instruments supplier’s stock worth $1,260,000 after purchasing an additional 18,051 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in STAAR Surgical by 1.5% in 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 last quarter. Algert Global LLC lifted its stake in STAAR Surgical by 13.5% in the second quarter. Algert Global LLC now owns 116,655 shares of the medical instruments supplier’s stock worth $5,554,000 after purchasing an additional 13,901 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in shares of STAAR Surgical during the second quarter worth approximately $1,223,000. Institutional investors own 96.70% of the company’s stock.

Insiders Place Their Bets

In other news, Director Arthur C. Butcher purchased 1,315 shares of the business’s stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

STAAR Surgical Stock Down 0.9 %

Shares of STAA stock opened at $30.42 on Wednesday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 98.13 and a beta of 0.59. The company’s 50 day moving average is $32.95 and its 200 day moving average is $39.67. STAAR Surgical has a 52-week low of $26.66 and a 52-week high of $52.68.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.09). STAAR Surgical had a return on equity of 5.60% and a net margin of 4.99%. The firm had revenue of $99.01 million during the quarter, compared to analysts’ expectations of $95.22 million. During the same period in the prior year, the firm posted $0.23 earnings per share. STAAR Surgical’s revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts anticipate that STAAR Surgical will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on STAA shares. BTIG Research raised their target price on shares of 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 shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $50.00 to $37.00 in a research report on Monday, July 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Thursday, September 19th. Stifel Nicolaus reduced 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, Canaccord Genuity Group reduced their target price on shares of STAAR Surgical from $43.00 to $41.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, STAAR Surgical has an average 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.