GAMMA Investing LLC Has $50,000 Position in STAAR Surgical (NASDAQ:STAA)

GAMMA Investing LLC raised its holdings in STAAR Surgical (NASDAQ:STAA) by 313.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,308 shares of the medical instruments supplier’s stock after acquiring an additional 992 shares during the quarter. GAMMA Investing LLC’s holdings in STAAR Surgical were worth $50,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in STAA. Broadwood Capital Inc. lifted its stake in shares of STAAR Surgical by 13.7% in the 4th quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock valued at $328,886,000 after purchasing an additional 1,273,408 shares during the last quarter. Vanguard Group Inc. lifted its position in STAAR Surgical by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,425,627 shares of the medical instruments supplier’s stock worth $218,002,000 after acquiring an additional 492,500 shares during the last quarter. Norges Bank bought a new stake in STAAR Surgical during the fourth quarter valued at about $13,615,000. BNP Paribas Financial Markets lifted its position in shares of STAAR Surgical by 296.0% during the 4th quarter. BNP Paribas Financial Markets now owns 281,547 shares of the medical instruments supplier’s stock worth $8,787,000 after purchasing an additional 210,443 shares during the last quarter. Finally, Defender Capital LLC. boosted its stake in STAAR Surgical by 33.0% during the 4th quarter. Defender Capital LLC. now owns 722,532 shares of the medical instruments supplier’s stock valued at $22,550,000 after purchasing an additional 179,135 shares during the period. 96.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on STAA. Canaccord Genuity Group dropped their price target on STAAR Surgical from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price target on shares of STAAR Surgical in a research report on Monday, April 1st. Piper Sandler increased their target price on shares of STAAR Surgical from $33.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Mizuho boosted their price target on STAAR Surgical from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, William Blair upgraded STAAR Surgical from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 4th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, STAAR Surgical has a consensus rating of “Hold” and a consensus price target of $47.00.

STAAR Surgical Price Performance

Shares of STAA stock opened at $41.15 on Tuesday. The stock’s fifty day simple moving average is $42.97 and its 200 day simple moving average is $37.28. STAAR Surgical has a one year low of $26.66 and a one year high of $58.82. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 132.74 and a beta of 0.65.

STAAR Surgical (NASDAQ:STAA) last issued its earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.12). The firm had revenue of $77.40 million during the quarter, compared to analyst estimates of $75.34 million. STAAR Surgical had a net margin of 4.69% and a return on equity of 6.83%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 EPS. On average, research analysts anticipate that STAAR Surgical will post 0.08 earnings per share for the current 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.