STAAR Surgical Company $STAA Shares Purchased by Broadwood Capital Inc.

Broadwood Capital Inc. raised its position in STAAR Surgical Company (NASDAQ:STAA) by 11.1% in the 4th quarter, HoldingsChannel reports. The fund owned 15,019,491 shares of the medical instruments supplier’s stock after purchasing an additional 1,500,000 shares during the period. STAAR Surgical makes up about 20.4% of Broadwood Capital Inc.’s investment portfolio, making the stock its 3rd biggest holding. Broadwood Capital Inc. owned about 0.30% of STAAR Surgical worth $346,800,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in STAA. Caitong International Asset Management Co. Ltd raised its holdings in 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 acquiring an additional 1,016 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in 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 acquiring an additional 4,673 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in 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 acquiring an additional 4,468 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in STAAR Surgical in the 3rd quarter valued at approximately $208,000. Finally, Amundi acquired a new position in STAAR Surgical in the 3rd quarter valued at approximately $251,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on STAA. Wells Fargo & Company upped their price target on STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, May 15th. Stifel Nicolaus upped their price objective on STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Canaccord Genuity Group upped 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. Mizuho upped 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 upped 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 analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.81.

STAAR Surgical Trading Up 1.9%

STAA stock opened at $28.92 on Wednesday. STAAR Surgical Company has a 1-year low of $15.59 and a 1-year high of $35.87. The firm has a market cap of $1.44 billion, a P/E ratio of -67.25 and a beta of 1.23. The business’s 50 day moving average is $27.98 and its 200-day moving average is $23.24. The company has a current ratio of 5.12, a quick ratio of 4.31 and a debt-to-equity ratio of 0.09.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings data 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 positive return on equity of 3.31% and a negative net margin of 7.24%.The company had revenue of $93.52 million for the quarter, compared to analyst estimates of $78.72 million. During the same period in the prior year, the company posted ($1.10) EPS. The company’s revenue 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.

STAAR Surgical 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.