MERIAN GLOBAL INVESTORS UK Ltd grew its stake in STAAR Surgical (NASDAQ:STAA) by 516.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,242 shares of the medical instruments supplier’s stock after purchasing an additional 52,986 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd owned approximately 0.14% of STAAR Surgical worth $3,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of STAAR Surgical by 4.7% in the 2nd quarter. BlackRock Inc. now owns 2,843,693 shares of the medical instruments supplier’s stock worth $88,153,000 after acquiring an additional 127,917 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of STAAR Surgical by 8.1% in the 2nd quarter. Baillie Gifford & Co. now owns 1,158,550 shares of the medical instruments supplier’s stock worth $35,915,000 after acquiring an additional 86,575 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of STAAR Surgical by 57.6% in the 2nd quarter. Renaissance Technologies LLC now owns 619,000 shares of the medical instruments supplier’s stock worth $19,189,000 after acquiring an additional 226,200 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of STAAR Surgical by 78.0% in the 2nd quarter. Millennium Management LLC now owns 587,601 shares of the medical instruments supplier’s stock worth $18,216,000 after acquiring an additional 257,549 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of STAAR Surgical by 6.8% in the 2nd quarter. Northern Trust Corp now owns 496,420 shares of the medical instruments supplier’s stock worth $15,389,000 after acquiring an additional 31,500 shares in the last quarter. Institutional investors own 79.51% of the company’s stock.

In other STAAR Surgical news, Director William P. Wall sold 5,000 shares of the company’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $41.35, for a total transaction of $206,750.00. Following the transaction, the director now owns 16,235 shares of the company’s stock, valued at approximately $671,317.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.90% of the stock is currently owned by corporate insiders.

NASDAQ:STAA opened at $40.54 on Friday. STAAR Surgical has a 52-week low of $12.40 and a 52-week high of $54.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.68. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 4,054.00 and a beta of 1.88.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, August 1st. The medical instruments supplier reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.08. STAAR Surgical had a return on equity of 16.04% and a net margin of 3.15%. The firm had revenue of $33.91 million for the quarter, compared to the consensus estimate of $27.10 million. On average, analysts expect that STAAR Surgical will post 0.03 earnings per share for the current year.

Several research analysts have recently commented on the company. TheStreet downgraded STAAR Surgical from a “b-” rating to a “c” rating in a report on Friday, June 29th. Benchmark reissued a “buy” rating and issued a $54.00 target price (up from $45.00) on shares of STAAR Surgical in a report on Monday, September 24th. BidaskClub downgraded STAAR Surgical from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 22nd. Canaccord Genuity reissued a “buy” rating and issued a $43.00 target price (up from $32.00) on shares of STAAR Surgical in a report on Thursday, August 2nd. Finally, Zacks Investment Research raised STAAR Surgical from a “hold” rating to a “strong-buy” rating and set a $46.00 target price on the stock in a report on Thursday, August 9th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $44.00.

STAAR Surgical Company Profile

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and delivery systems to deliver the lenses into the eye. The company provides Visian implantable collamer lenses (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.

Read More: Initial Public Offering (IPO)

Institutional Ownership by Quarter for STAAR Surgical (NASDAQ:STAA)

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