American Capital Management Inc. Increases Stock Holdings in STAAR Surgical Company $STAA

American Capital Management Inc. grew its stake in shares of STAAR Surgical Company (NASDAQ:STAA) by 18.7% in the first quarter, HoldingsChannel reports. The fund owned 878,035 shares of the medical instruments supplier’s stock after buying an additional 138,499 shares during the quarter. American Capital Management Inc.’s holdings in STAAR Surgical were worth $16,419,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its holdings in STAAR Surgical by 2,605.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 1,016 shares during the last quarter. Ascentis Independent Advisors purchased a new position in shares of STAAR Surgical in the 1st quarter worth about $77,000. Russell Investments Group Ltd. lifted its stake in shares of STAAR Surgical by 9,928.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock valued at $121,000 after purchasing an additional 4,468 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of STAAR Surgical by 375.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock valued at $99,000 after purchasing an additional 4,673 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of STAAR Surgical during the 3rd quarter worth about $208,000. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

STAAR Surgical Stock Performance

Shares of STAA stock opened at $22.95 on Tuesday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -53.37 and a beta of 1.23. STAAR Surgical Company has a one year low of $15.59 and a one year high of $35.87. The company’s 50-day simple moving average is $28.66 and its 200-day simple moving average is $23.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. STAAR Surgical had a negative net margin of 7.24% and a positive return on equity of 3.31%. The firm had revenue of $93.52 million during the quarter, compared to analyst estimates of $78.72 million. During the same quarter in the previous year, the firm earned ($1.10) earnings per share. The firm’s revenue for the quarter was up 119.6% compared to the same quarter last year. Equities analysts anticipate that STAAR Surgical Company will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on STAA shares. Stifel Nicolaus boosted their price objective on shares of STAAR Surgical from $18.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. Canaccord Genuity Group lifted their target price on shares of STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Wedbush reaffirmed an “outperform” rating and set a $40.00 price target on shares of STAAR Surgical in a research report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 25th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus 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.