Cetera Investment Advisers Acquires New Holdings in STAAR Surgical (NASDAQ:STAA)

Cetera Investment Advisers acquired a new stake in shares of STAAR Surgical (NASDAQ:STAA) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 23,838 shares of the medical instruments supplier’s stock, valued at approximately $1,135,000.

A number of other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp acquired a new position in STAAR Surgical during the second quarter valued at approximately $268,000. Algert Global LLC grew its holdings in STAAR Surgical by 13.5% during the second quarter. Algert Global LLC now owns 116,655 shares of the medical instruments supplier’s stock valued at $5,554,000 after purchasing an additional 13,901 shares during the period. The Manufacturers Life Insurance Company grew its holdings in STAAR Surgical by 16.2% during the second quarter. The Manufacturers Life Insurance Company now owns 27,008 shares of the medical instruments supplier’s stock valued at $1,286,000 after purchasing an additional 3,758 shares during the period. Millennium Management LLC grew its holdings in STAAR Surgical by 84.2% during the second quarter. Millennium Management LLC now owns 178,772 shares of the medical instruments supplier’s stock valued at $8,511,000 after purchasing an additional 81,738 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new position in STAAR Surgical during the second quarter valued at approximately $423,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

Insider Buying and Selling

In other news, Director Arthur C. Butcher bought 1,315 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $37.99 per share, for a total transaction of $49,956.85. Following the completion of the acquisition, the director now owns 4,208 shares in the company, valued at approximately $159,861.92. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on STAA. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Thursday, September 19th. Morgan Stanley lowered shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $50.00 to $37.00 in a research note on Monday, July 15th. BTIG Research lifted 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. Stifel Nicolaus cut their price target on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Canaccord Genuity Group cut 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 note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $45.57.

STAAR Surgical Stock Down 0.2 %

Shares of STAA stock opened at $32.06 on Thursday. The company’s fifty day simple moving average is $33.44 and its 200-day simple moving average is $39.89. The firm has a market cap of $1.58 billion, a PE ratio of 103.42 and a beta of 0.59. STAAR Surgical has a 12 month low of $26.66 and a 12 month high of $52.68.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The business had revenue of $99.01 million during 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 business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS. On average, equities analysts predict that STAAR Surgical will post 0.16 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.