Victory Capital Management Inc. Has $7.73 Million Stake in STAAR Surgical (NASDAQ:STAA)

Victory Capital Management Inc. grew its holdings in shares of STAAR Surgical (NASDAQ:STAA) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 162,338 shares of the medical instruments supplier’s stock after purchasing an additional 1,153 shares during the period. Victory Capital Management Inc. owned about 0.33% of STAAR Surgical worth $7,729,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in STAAR Surgical by 313.9% during the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock worth $50,000 after buying an additional 992 shares in the last quarter. Cape Investment Advisory Inc. acquired a new stake in shares of STAAR Surgical during the 4th quarter worth $42,000. Covestor Ltd increased its position 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 during the period. Larson Financial Group LLC acquired a new position in STAAR Surgical in the second quarter valued at about $130,000. Finally, Quest Partners LLC bought a new stake in STAAR Surgical during the fourth quarter worth about $146,000. 96.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

STAA has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Thursday, August 8th. Canaccord Genuity Group lowered 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 report on Thursday, August 8th. Stifel Nicolaus reduced their target price on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Morgan Stanley cut STAAR Surgical from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $50.00 to $37.00 in a report on Monday, July 15th. Finally, BTIG Research raised their price objective on STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, July 15th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.57.

STAAR Surgical Trading Up 8.0 %

STAAR Surgical stock opened at $32.38 on Monday. The stock has a 50-day moving average price of $37.62 and a two-hundred day moving average price of $40.54. STAAR Surgical has a 12 month low of $26.66 and a 12 month high of $52.68. The company has a market capitalization of $1.59 billion, a PE ratio of 104.45 and a beta of 0.58.

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

Insider Activity at STAAR Surgical

In related news, Director Arthur C. Butcher bought 1,315 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $37.99 per share, with a total value of $49,956.85. Following the acquisition, the director now owns 4,208 shares of the company’s stock, valued at $159,861.92. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.

About STAAR Surgical

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.