On August 30, 2023, it was reported that the Swiss National Bank has reduced its position in STAAR Surgical by 10.3% during the first quarter of the year. According to the company’s disclosure with the Securities and Exchange Commission (SEC), the Swiss National Bank now owns 88,400 shares of STAAR Surgical after selling 10,200 shares in this period. At the end of the most recent reporting period, these shares were valued at approximately $5,653,000 representing approximately 0.18% ownership of STAAR Surgical.

STAAR Surgical, listed on NASDAQ as STAA, recently released its quarterly earnings data on August 2nd. In this announcement, it was revealed that the medical instruments supplier reported an EPS (earnings per share) of $0.23 for the quarter, surpassing analysts’ consensus estimates by $0.04. The company generated $92.31 million in revenue during this period, slightly below the estimated $93.04 million by analysts. Furthermore, STAAR Surgical achieved a net margin of 8.14% and a return on equity of 8.37%. Analysts predict that for the current year, STAAR Surgical will report earnings per share of approximately $0.52.

In other news related to STAAR Surgical, director Aimee S. Weisner made a significant purchase of the company’s stock on August 7th. Weisner acquired 2,000 shares at an average price of $48.72 per share for a total transaction value of $97,440. Following this purchase, Weisner now holds a total of 5,417 shares in STAAR Surgical with an estimated value of around $263,916.24 according to filing records with SEC.

These recent developments highlight some notable activities surrounding STAAR Surgical and its stock ownership landscape both internally and externally within institutional investors. It is a dynamic time for the company as it strives to maintain its growth trajectory and meet analysts’ expectations. Investors and industry observers will be keeping a close eye on STAAR Surgical’s performance in the coming months to gauge its continued success and potential future prospects.

STAAR Surgical Gains Attention from Hedge Funds and Analysts Amidst Market Fluctuations

STAAR Surgical, a medical instruments supplier, has garnered attention from various hedge funds and institutional investors. In recent quarters, several hedge funds have bought and sold shares of the company, indicating a high degree of interest in its stock.

Assetmark Inc. increased its position in STAAR Surgical by 42.1% during the fourth quarter, acquiring an additional 191 shares. This stake is now worth $31,000. Similarly, Lazard Asset Management LLC increased its position by 131.1% during the first quarter and currently owns 684 shares valued at $54,000. UBS Group AG also saw a substantial increase of 130.7% in their stake during the second quarter, bringing their total to 805 shares worth $57,000.

Moreover, Captrust Financial Advisors experienced an impressive growth rate of 348.4% in their STAAR Surgical investment during the second quarter, now owning 825 shares valued at $59,000. Money Concepts Capital Corp rounded out the group with a significant increase in their position by 125.0%, holding 1,251 shares now valued at $61,000.

It is worth mentioning that institutional investors and hedge funds currently own approximately 96.70% of STAAR Surgical’s stock.

As for market performance, on Wednesday STAA opened at $44.90 per share. The company has shown a declining trend in its average moving price over both the short term (50-day moving average) and long term (200-day moving average). The latter stands at $49.78 and the former rose to $57.82 respectively.

Over the past year, STAA stocks have ranged between a low of $40.95 and a high of $98.39 – showcasing quite a notable disparity within this period.
STAAR Surgical holds a market cap of approximately $2.18 billion with a price-to-earnings (P/E) ratio of 89.80 and a beta of 1.13.

Analysts have conducted significant research on STAAR Surgical, resulting in various reports. Piper Sandler recently lowered their price objective from $65.00 to $50.00, assigning a “neutral” rating for the company.
Similarly, Stephens reaffirmed an “overweight” rating with a target price of $57.00.
According to Needham & Company LLC, who also conducted research on STAAR Surgical, they determined a target price decrease from $75.00 to $58.00 and issued a “buy” rating.
William Blair downgraded their rating from “outperform” to “market perform.”
Another research report by Stifel Nicolaus also reduced their target price from $50.00 to $45.00, with a “hold” rating.

Overall, Bloomberg data indicates that seven research analysts provided a consensus rating of “Hold,” while six analysts assigned it a “Buy” rating.
The consensus target price for STAAR Surgical is currently estimated at $60.10.

In conclusion, STAAR Surgical has attracted the attention of various hedge funds and institutional investors amidst fluctuations in its stock performance throughout the past year. Analysts have conducted extensive research reports and opinions vary regarding the future outlook for the company.

The post Swiss National Bank Reduces Stake in STAAR Surgical, Director Makes Significant Purchase appeared first on Best Stocks.