Palo Alto Investors LLC grew its holdings in STAAR Surgical Company (NASDAQ:STAA) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,529,070 shares of the medical instruments supplier’s stock after purchasing an additional 55,900 shares during the period. STAAR Surgical comprises about 1.8% of Palo Alto Investors LLC’s investment portfolio, making the stock its 16th biggest holding. Palo Alto Investors LLC owned 8.58% of STAAR Surgical worth $38,114,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of STAAR Surgical by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,280,775 shares of the medical instruments supplier’s stock worth $13,832,000 after buying an additional 7,803 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of STAAR Surgical by 36.2% in the 2nd quarter. Baillie Gifford & Co. now owns 666,612 shares of the medical instruments supplier’s stock worth $7,199,000 after buying an additional 177,072 shares during the last quarter. Northern Trust Corp boosted its stake in shares of STAAR Surgical by 5.2% in the 2nd quarter. Northern Trust Corp now owns 481,459 shares of the medical instruments supplier’s stock worth $5,199,000 after buying an additional 23,764 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of STAAR Surgical by 1.2% in the 2nd quarter. Principal Financial Group Inc. now owns 298,723 shares of the medical instruments supplier’s stock worth $3,226,000 after buying an additional 3,594 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of STAAR Surgical by 6.3% in the 1st quarter. Geode Capital Management LLC now owns 245,080 shares of the medical instruments supplier’s stock worth $2,401,000 after buying an additional 14,420 shares during the last quarter. 76.54% of the stock is owned by institutional investors and hedge funds.

STAAR Surgical Company (NASDAQ STAA) traded up 1.87% during trading on Thursday, hitting $13.65. The stock had a trading volume of 42,963 shares. The company’s 50 day moving average is $11.91 and its 200 day moving average is $10.47. The firm’s market cap is $561.12 million. STAAR Surgical Company has a 52-week low of $7.45 and a 52-week high of $13.75.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. STAAR Surgical had a negative return on equity of 8.69% and a negative net margin of 6.06%. The firm had revenue of $21.90 million for the quarter, compared to the consensus estimate of $22.15 million. During the same period in the prior year, the firm earned ($0.02) EPS. The firm’s revenue was up 4.8% on a year-over-year basis. Equities research analysts forecast that STAAR Surgical Company will post ($0.11) earnings per share for the current year.

A number of equities analysts have recently issued reports on STAA shares. TheStreet upgraded STAAR Surgical from a “d+” rating to a “c” rating in a research note on Tuesday, August 15th. Canaccord Genuity raised their price target on STAAR Surgical from $9.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Benchmark Co. raised their price target on STAAR Surgical from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Zacks Investment Research downgraded STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Finally, BidaskClub upgraded STAAR Surgical from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. STAAR Surgical has a consensus rating of “Buy” and an average price target of $13.33.

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STAAR Surgical Profile

STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery.

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

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