Rhumbline Advisers Acquires 352 Shares of STAAR Surgical (NASDAQ:STAA)

Rhumbline Advisers grew its position in STAAR Surgical (NASDAQ:STAA) by 0.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 160,909 shares of the medical instruments supplier’s stock after buying an additional 352 shares during the period. Rhumbline Advisers owned approximately 0.33% of STAAR Surgical worth $10,290,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of STAA. Yong Rong HK Asset Management Ltd purchased a new position in STAAR Surgical in the first quarter worth about $44,524,000. CloudAlpha Capital Management Limited Hong Kong purchased a new position in STAAR Surgical in the first quarter worth about $28,157,000. Clearbridge Investments LLC purchased a new position in STAAR Surgical in the first quarter worth about $32,339,000. Norges Bank purchased a new position in STAAR Surgical in the fourth quarter worth about $14,148,000. Finally, Assenagon Asset Management S.A. purchased a new position in STAAR Surgical in the first quarter worth about $13,518,000. 96.70% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical Price Performance

STAA opened at $43.06 on Monday. The firm has a market cap of $2.09 billion, a P/E ratio of 86.12 and a beta of 1.09. STAAR Surgical has a 1-year low of $40.95 and a 1-year high of $97.16. The company has a 50 day simple moving average of $49.33 and a two-hundred day simple moving average of $57.36.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $92.31 million during the quarter, compared to analyst estimates of $93.04 million. STAAR Surgical had a net margin of 8.14% and a return on equity of 8.37%. Equities analysts anticipate that STAAR Surgical will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Aimee S. Weisner purchased 2,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $48.72 per share, for a total transaction of $97,440.00. Following the completion of the transaction, the director now directly owns 5,417 shares in the company, valued at approximately $263,916.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Canaccord Genuity Group cut shares of STAAR Surgical from a “buy” rating to a “hold” rating and decreased their target price for the stock from $77.00 to $48.00 in a report on Thursday, August 3rd. Stephens reissued an “overweight” rating and set a $57.00 price objective on shares of STAAR Surgical in a report on Monday, August 14th. William Blair cut shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 7th. Needham & Company LLC decreased their price objective on shares of STAAR Surgical from $75.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, August 3rd. Finally, Stifel Nicolaus decreased their price objective on shares of STAAR Surgical from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, August 21st. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, STAAR Surgical currently has an average rating of “Hold” and an average target price of $60.10.

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 Visian implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.