US Bancorp DE Boosts Stock Position in STAAR Surgical (NASDAQ:STAA)

US Bancorp DE increased its stake in shares of STAAR Surgical (NASDAQ:STAA – Get Rating) by 143.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,333 shares of the medical instruments supplier’s stock after purchasing an additional 4,914 shares during the quarter. US Bancorp DE’s holdings in STAAR Surgical were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its stake in STAAR Surgical by 0.6% in the 2nd quarter. Sei Investments Co. now owns 34,969 shares of the medical instruments supplier’s stock worth $2,484,000 after buying an additional 195 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of STAAR Surgical by 18.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,287 shares of the medical instruments supplier’s stock valued at $102,000 after purchasing an additional 202 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of STAAR Surgical by 264.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 496 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 360 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of STAAR Surgical by 131.1% in the 1st quarter. Lazard Asset Management LLC now owns 684 shares of the medical instruments supplier’s stock valued at $54,000 after purchasing an additional 388 shares in the last quarter. Finally, Xponance Inc. lifted its stake in shares of STAAR Surgical by 6.2% in the 2nd quarter. Xponance Inc. now owns 7,622 shares of the medical instruments supplier’s stock valued at $541,000 after purchasing an additional 443 shares in the last quarter. Hedge funds and other institutional investors own 97.55% of the company’s stock.

STAAR Surgical Stock Up 1.6 %

Shares of NASDAQ:STAA opened at $70.63 on Friday. STAAR Surgical has a 12-month low of $46.35 and a 12-month high of $112.27. The stock has a market cap of $3.40 billion, a PE ratio of 92.94 and a beta of 1.05. The business has a 50 day moving average of $59.37 and a 200-day moving average of $73.11.

STAAR Surgical (NASDAQ:STAA – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The medical instruments supplier reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.12. STAAR Surgical had a return on equity of 15.13% and a net margin of 13.54%. The company had revenue of $76.05 million during the quarter, compared to analysts’ expectations of $74.95 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The business’s revenue was up 30.3% on a year-over-year basis. Equities research analysts expect that STAAR Surgical will post 0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Sidoti raised STAAR Surgical from a “neutral” rating to a “buy” rating in a research note on Monday, November 7th. Stephens cut their target price on STAAR Surgical from $91.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 28th. Needham & Company LLC cut their target price on STAAR Surgical from $110.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, November 3rd. Stifel Nicolaus started coverage on STAAR Surgical in a research report on Wednesday, December 7th. They set a “hold” rating and a $60.00 price target on the stock. Finally, StockNews.com assumed coverage on STAAR Surgical in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.80.

Insider Transactions at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. purchased 39,090 shares of the business’s stock in a transaction that occurred on Thursday, December 29th. The stock was acquired at an average cost of $47.93 per share, for a total transaction of $1,873,583.70. Following the completion of the purchase, the insider now owns 8,783,082 shares in the company, valued at approximately $420,973,120.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

About STAAR Surgical

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STAAR Surgical Co engages in the development, manufacture, production, marketing, and sale of implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It specializes in refractive and cataract solutions. Its products include intraocular lens and implantable collamer lens.