Louisiana State Employees Retirement System Purchases Shares of 22,100 STAAR Surgical Company $STAA

Louisiana State Employees Retirement System purchased a new position in shares of STAAR Surgical Company (NASDAQ:STAA) during the 1st quarter, Holdings Channel reports. The fund purchased 22,100 shares of the medical instruments supplier’s stock, valued at approximately $413,000.

Other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its position in shares of STAAR Surgical by 2,605.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 1,016 shares during the last quarter. Russell Investments Group Ltd. boosted its position in STAAR Surgical by 9,928.9% during the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock valued at $121,000 after purchasing an additional 4,468 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in STAAR Surgical by 375.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock valued at $99,000 after purchasing an additional 4,673 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in STAAR Surgical in the third quarter valued at approximately $208,000. Finally, Amundi bought a new position in STAAR Surgical in the third quarter valued at approximately $251,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Mizuho upped their price objective on STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Piper Sandler raised their target price on shares of STAAR Surgical from $16.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Wedbush restated an “outperform” rating and set a $40.00 target price on shares of STAAR Surgical in a report on Friday, May 29th. Weiss Ratings upgraded shares of STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 25th. Finally, Canaccord Genuity Group increased their price target on shares of STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, STAAR Surgical currently has an average rating of “Hold” and an average target price of $27.81.

STAAR Surgical Price Performance

Shares of NASDAQ STAA opened at $28.15 on Thursday. The business’s 50 day moving average price is $29.29 and its two-hundred day moving average price is $23.63. The company has a market cap of $1.40 billion, a PE ratio of -65.46 and a beta of 1.23. The company has a quick ratio of 4.31, a current ratio of 5.12 and a debt-to-equity ratio of 0.09. STAAR Surgical Company has a twelve month low of $15.59 and a twelve month high of $35.87.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings data on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The firm had revenue of $93.52 million for the quarter, compared to analyst estimates of $78.72 million. During the same quarter in the prior year, the company earned ($1.10) earnings per share. The business’s revenue for the quarter was up 119.6% compared to the same quarter last year. On average, analysts predict that STAAR Surgical Company will post 0.13 EPS for the current year.

STAAR Surgical Company 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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.