Renaissance Technologies LLC Has $2.53 Million Stake in STAAR Surgical Company $STAA

Renaissance Technologies LLC increased its position in shares of STAAR Surgical Company (NASDAQ:STAA) by 257.7% during the first quarter, HoldingsChannel reports. The fund owned 135,200 shares of the medical instruments supplier’s stock after buying an additional 97,400 shares during the quarter. Renaissance Technologies LLC’s holdings in STAAR Surgical were worth $2,528,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of STAA. Gamco Investors INC. ET AL raised its position in STAAR Surgical by 33.3% in the first quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the medical instruments supplier’s stock valued at $374,000 after purchasing an additional 5,000 shares during the last quarter. Inceptionr LLC bought a new stake in shares of STAAR Surgical during the first quarter worth about $401,000. Crcm LP acquired a new position in shares of STAAR Surgical in the first quarter valued at approximately $1,870,000. Dimensional Fund Advisors LP increased its stake in shares of STAAR Surgical by 39.1% in the first quarter. Dimensional Fund Advisors LP now owns 820,782 shares of the medical instruments supplier’s stock valued at $15,348,000 after buying an additional 230,582 shares during the period. Finally, Fifth Third Bancorp raised its holdings in STAAR Surgical by 2,867.1% in the 1st quarter. Fifth Third Bancorp now owns 11,008 shares of the medical instruments supplier’s stock valued at $206,000 after buying an additional 10,637 shares during the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Price Performance

STAAR Surgical stock opened at $24.21 on Monday. The stock’s 50 day moving average is $27.19 and its 200 day moving average is $23.98. STAAR Surgical Company has a one year low of $15.59 and a one year high of $35.87. The firm has a market cap of $1.21 billion, a P/E ratio of -56.30 and a beta of 1.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.12 and a quick ratio of 4.31.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Wall Street Zen downgraded shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Piper Sandler lifted their price target on shares of STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. 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, Stifel Nicolaus boosted their price objective on shares of STAAR Surgical from $18.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, STAAR Surgical has an average rating of “Hold” and an average target price of $26.94.

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. 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.