362,050 Shares in STAAR Surgical (NASDAQ:STAA) Purchased by Granite Investment Partners LLC

Granite Investment Partners LLC acquired a new position in shares of STAAR Surgical (NASDAQ:STAA) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 362,050 shares of the medical instruments supplier’s stock, valued at approximately $17,237,000. Granite Investment Partners LLC owned 0.74% of STAAR Surgical as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cape Investment Advisory Inc. acquired a new stake in STAAR Surgical during the fourth quarter worth about $42,000. GAMMA Investing LLC grew its position in STAAR Surgical by 313.9% in the 1st quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 992 shares during the last quarter. Covestor Ltd grew its position in STAAR Surgical by 38.9% in the 1st quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock worth $103,000 after purchasing an additional 754 shares during the last quarter. Larson Financial Group LLC bought a new position in STAAR Surgical in the 2nd quarter worth about $130,000. Finally, Quest Partners LLC bought a new position in STAAR Surgical in the 4th quarter worth about $146,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA opened at $31.60 on Friday. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 100.87 and a beta of 0.58. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $52.68. The company has a 50 day moving average price of $36.91 and a 200 day moving average price of $40.47.

STAAR Surgical (NASDAQ:STAA) last issued its earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The business had revenue of $99.01 million for the quarter, compared to the consensus estimate of $95.22 million. STAAR Surgical had a return on equity of 5.60% and a net margin of 4.99%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 earnings per share. On average, sell-side analysts expect that STAAR Surgical will post 0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

STAA has been the subject of several recent analyst reports. BTIG Research upped their target price on shares of STAAR Surgical from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Stifel Nicolaus decreased their target price on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a report on Thursday. Canaccord Genuity Group decreased their price objective on shares of STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley cut shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $50.00 to $37.00 in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, STAAR Surgical has an average rating of “Hold” and a consensus price target of $45.57.

Insider Buying and Selling

In other news, Director Arthur C. Butcher purchased 1,315 shares of STAAR Surgical stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $37.99 per share, for a total transaction of $49,956.85. Following the transaction, the director now owns 4,208 shares in the company, valued at $159,861.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

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.