Kayne Anderson Rudnick Investment Management LLC Has $28.22 Million Holdings in STAAR Surgical (NASDAQ:STAA)

Kayne Anderson Rudnick Investment Management LLC raised its position in STAAR Surgical (NASDAQ:STAA) by 50.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 592,621 shares of the medical instruments supplier’s stock after purchasing an additional 197,717 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 1.20% of STAAR Surgical worth $28,215,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of STAA. Sei Investments Co. raised its position in STAAR Surgical by 2.7% in the 2nd quarter. Sei Investments Co. now owns 15,087 shares of the medical instruments supplier’s stock valued at $718,000 after buying an additional 394 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in shares of STAAR Surgical by 1.0% in the first quarter. Texas Permanent School Fund Corp now owns 42,577 shares of the medical instruments supplier’s stock worth $1,630,000 after purchasing an additional 407 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in STAAR Surgical by 3.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,343 shares of the medical instruments supplier’s stock worth $540,000 after purchasing an additional 418 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in STAAR Surgical by 2.3% in the second quarter. Linden Thomas Advisory Services LLC now owns 20,721 shares of the medical instruments supplier’s stock valued at $987,000 after purchasing an additional 469 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in STAAR Surgical by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the medical instruments supplier’s stock worth $1,176,000 after buying an additional 500 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.

STAAR Surgical Stock Down 3.8 %

Shares of NASDAQ:STAA opened at $30.39 on Friday. STAAR Surgical has a 12-month low of $26.66 and a 12-month high of $52.68. The business has a 50 day moving average of $36.26 and a 200-day moving average of $40.43. The stock has a market cap of $1.49 billion, a PE ratio of 98.03 and a beta of 0.58.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.09). The firm had revenue of $99.01 million during the quarter, compared to the consensus estimate of $95.22 million. STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. Equities research analysts expect that STAAR Surgical will post 0.17 earnings per share for the current year.

Insider Activity at STAAR Surgical

In other STAAR Surgical news, Director Arthur C. Butcher acquired 1,315 shares of the company’s stock in a transaction 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 purchase, the director now directly owns 4,208 shares of the company’s stock, valued at $159,861.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Thursday. Canaccord Genuity Group dropped their price target on shares of STAAR Surgical from $43.00 to $41.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. BTIG Research increased their price target on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Morgan Stanley cut shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $50.00 to $37.00 in a report on Monday, July 15th. Finally, Stifel Nicolaus reduced their price target on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, STAAR Surgical presently has a consensus rating of “Hold” and an average price target of $45.57.

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.