Edgestream Partners L.P. Invests $390,000 in STAAR Surgical (NASDAQ:STAA)

Edgestream Partners L.P. bought a new position in STAAR Surgical (NASDAQ:STAA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,192 shares of the medical instruments supplier’s stock, valued at approximately $390,000.

Several other large investors have also recently modified their holdings of STAA. Cape Investment Advisory Inc. purchased a new position in shares of STAAR Surgical in the fourth quarter worth about $42,000. GAMMA Investing LLC increased its stake in shares of STAAR Surgical by 313.9% in the first 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 in the last quarter. Covestor Ltd increased its stake in shares of STAAR Surgical by 38.9% in the first quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock worth $103,000 after purchasing an additional 754 shares in the last quarter. Larson Financial Group LLC purchased a new position in shares of STAAR Surgical in the second quarter worth about $130,000. Finally, Quest Partners LLC purchased a new position in STAAR Surgical during the fourth quarter valued at approximately $146,000. Hedge funds and other institutional investors own 96.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on STAA. Morgan Stanley cut shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $50.00 to $37.00 in a research note on Monday, July 15th. Canaccord Genuity Group reduced their price objective on shares of STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus reduced their price objective on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, August 26th. BTIG Research boosted their price objective 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Thursday. One research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.57.

STAAR Surgical Price Performance

Shares of STAAR Surgical stock opened at $30.39 on Monday. STAAR Surgical has a 1 year low of $26.66 and a 1 year high of $52.68. The firm has a market cap of $1.49 billion, a PE ratio of 98.03 and a beta of 0.58. The company has a 50 day simple moving average of $36.26 and a two-hundred day simple moving average of $40.46.

STAAR Surgical (NASDAQ:STAA) last announced its 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 company had revenue of $99.01 million for 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 company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 earnings per share. As a group, research analysts anticipate that STAAR Surgical will post 0.17 earnings per share for the current year.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, Director Arthur C. Butcher acquired 1,315 shares of the stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $37.99 per share, for a total transaction of $49,956.85. Following the acquisition, the director now owns 4,208 shares in the company, valued at approximately $159,861.92. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.