GABELLI & Co INVESTMENT ADVISERS INC. Makes New $4.81 Million Investment in STAAR Surgical Company $STAA

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in STAAR Surgical Company (NASDAQ:STAA) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 179,000 shares of the medical instruments supplier’s stock, valued at approximately $4,810,000. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.36% of STAAR Surgical at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. New York Life Investment Management LLC acquired a new stake in STAAR Surgical in the 3rd quarter worth approximately $2,243,000. Alpine Associates Management Inc. acquired a new position in shares of STAAR Surgical during the 3rd quarter worth about $24,535,000. Versor Investments LP acquired a new position in shares of STAAR Surgical during the 3rd quarter worth about $5,708,000. Credit Industriel ET Commercial bought a new stake in STAAR Surgical during the 3rd quarter valued at approximately $3,258,000. Finally, ABC Arbitrage SA bought a new stake in STAAR Surgical during the 3rd quarter valued at approximately $6,632,000. Institutional investors own 96.70% of the company’s stock.

Insider Activity

In related news, major shareholder Broadwood Partners, L.P. purchased 336,946 shares of STAAR Surgical stock in a transaction dated Tuesday, January 6th. The shares were acquired at an average cost of $21.62 per share, for a total transaction of $7,284,772.52. Following the transaction, the insider directly owned 15,356,437 shares of the company’s stock, valued at approximately $332,006,167.94. This trade represents a 2.24% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders acquired 434,138 shares of company stock valued at $9,424,176. 0.59% of the stock is owned by company insiders.

STAAR Surgical Stock Performance

Shares of STAA opened at $18.46 on Friday. The business’s fifty day moving average price is $19.68 and its two-hundred day moving average price is $24.05. The firm has a market capitalization of $913.95 million, a price-to-earnings ratio of -11.33 and a beta of 1.05. STAAR Surgical Company has a 52 week low of $14.69 and a 52 week high of $30.81.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.51). The firm had revenue of $57.80 million for the quarter, compared to the consensus estimate of $75.54 million. STAAR Surgical had a negative return on equity of 10.03% and a negative net margin of 33.60%.The business’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, research analysts forecast that STAAR Surgical Company will post -1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wedbush initiated coverage on STAAR Surgical in a report on Tuesday, February 3rd. They set a “neutral” rating and a $26.00 price target for the company. Stifel Nicolaus decreased their price target on shares of STAAR Surgical from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday. Morgan Stanley assumed coverage on shares of STAAR Surgical in a research note on Friday, January 16th. They issued an “underweight” rating and a $13.00 price objective for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of STAAR Surgical in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group reduced their target price on shares of STAAR Surgical from $28.00 to $21.50 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $18.94.

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.