Rhumbline Advisers Cuts Stock Position in STAAR Surgical Company $STAA

Rhumbline Advisers cut its holdings in shares of STAAR Surgical Company (NASDAQ:STAA) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,505 shares of the medical instruments supplier’s stock after selling 706 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of STAAR Surgical worth $2,442,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE grew its position in STAAR Surgical by 1,693.0% during the first quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 1,930 shares during the period. Brooklyn Investment Group boosted its stake in STAAR Surgical by 1,564.0% in the first quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier’s stock valued at $47,000 after acquiring an additional 2,518 shares during the last quarter. EntryPoint Capital LLC purchased a new position in STAAR Surgical in the first quarter valued at about $189,000. Strs Ohio bought a new position in shares of STAAR Surgical during the 1st quarter valued at approximately $190,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of STAAR Surgical by 29.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,076 shares of the medical instruments supplier’s stock worth $248,000 after purchasing an additional 3,217 shares during the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical Price Performance

NASDAQ:STAA opened at $27.23 on Wednesday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -14.11 and a beta of 0.74. The business has a 50 day moving average of $23.97 and a 200 day moving average of $19.81. STAAR Surgical Company has a 1-year low of $13.50 and a 1-year high of $38.60.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Wednesday, May 21st. Stifel Nicolaus set a $28.00 price target on STAAR Surgical and gave the company a “hold” rating in a research report on Thursday, August 7th. Canaccord Genuity Group increased their price target on STAAR Surgical from $20.00 to $28.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Piper Sandler upgraded STAAR Surgical to a “hold” rating in a research note on Wednesday, June 18th. Finally, Mizuho upped their price objective on shares of STAAR Surgical from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, STAAR Surgical has an average rating of “Hold” and an average target price of $20.67.

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.