CenterBook Partners LP Takes Position in STAAR Surgical Company $STAA

CenterBook Partners LP purchased a new stake in STAAR Surgical Company (NASDAQ:STAA) in the 4th quarter, Holdings Channel reports. The fund purchased 177,974 shares of the medical instruments supplier’s stock, valued at approximately $4,109,000.

Several other hedge funds have also modified their holdings of the business. Invesco Ltd. lifted its holdings in shares of STAAR Surgical by 0.6% in the 3rd quarter. Invesco Ltd. now owns 150,896 shares of the medical instruments supplier’s stock valued at $4,055,000 after buying an additional 956 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of STAAR Surgical by 2,605.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 1,016 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of STAAR Surgical by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock valued at $518,000 after buying an additional 1,267 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of STAAR Surgical by 3.6% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 57,625 shares of the medical instruments supplier’s stock valued at $1,546,000 after buying an additional 1,979 shares during the period. Finally, Creative Planning increased its stake in STAAR Surgical by 19.9% in the 2nd quarter. Creative Planning now owns 15,695 shares of the medical instruments supplier’s stock valued at $263,000 after purchasing an additional 2,606 shares in the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other STAAR Surgical news, Director Broadwood Partners, L.P. acquired 316,017 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $18.61 per share, for a total transaction of $5,881,076.37. Following the completion of the acquisition, the director directly owned 16,123,842 shares of the company’s stock, valued at $300,064,699.62. This trade represents a 2.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired a total of 670,213 shares of company stock worth $12,266,249 in the last 90 days. 39.90% of the stock is owned by company insiders.

STAAR Surgical Stock Performance

STAAR Surgical stock opened at $29.96 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12. The stock has a fifty day moving average of $26.80 and a two-hundred day moving average of $23.14. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -69.67 and a beta of 1.23. STAAR Surgical Company has a fifty-two week low of $15.59 and a fifty-two week high of $35.87.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The business had revenue of $93.52 million for the quarter, compared to analysts’ expectations of $78.72 million. During the same quarter last year, the firm earned ($1.10) earnings per share. The business’s revenue was up 119.6% on a year-over-year basis. On average, analysts anticipate that STAAR Surgical Company will post 0.13 EPS for the current fiscal year.

Analyst Ratings Changes

STAA has been the subject of several research analyst reports. Weiss Ratings downgraded STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Canaccord Genuity Group raised their price objective on STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of STAAR Surgical in a research note on Friday, May 29th. Mizuho raised their price objective on STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Piper Sandler raised their price objective on STAAR Surgical from $16.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $27.81.

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.