Handelsbanken Fonder AB Raises Stock Position in STAAR Surgical (NASDAQ:STAA)

Handelsbanken Fonder AB increased its stake in STAAR Surgical (NASDAQ:STAA) by 18.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,500 shares of the medical instruments supplier’s stock after acquiring an additional 1,600 shares during the period. Handelsbanken Fonder AB’s holdings in STAAR Surgical were worth $328,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System bought a new stake in STAAR Surgical in the third quarter worth about $718,000. New York State Teachers Retirement System boosted its holdings in STAAR Surgical by 3.5% during the 3rd quarter. New York State Teachers Retirement System now owns 58,340 shares of the medical instruments supplier’s stock valued at $2,344,000 after acquiring an additional 1,979 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in STAAR Surgical by 17.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,639 shares of the medical instruments supplier’s stock valued at $347,000 after acquiring an additional 1,259 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in STAAR Surgical by 2.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 14,400 shares of the medical instruments supplier’s stock valued at $579,000 after acquiring an additional 391 shares during the last quarter. Finally, Perigon Wealth Management LLC purchased a new stake in STAAR Surgical in the third quarter worth $265,000. 96.70% of the stock is owned by institutional investors.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, Director Aimee S. Weisner purchased 1,750 shares of STAAR Surgical stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $38.11 per share, with a total value of $66,692.50. Following the acquisition, the director now owns 10,864 shares of the company’s stock, valued at approximately $414,027.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Canaccord Genuity Group upped their price target on shares of STAAR Surgical from $32.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Thursday, April 4th. Mizuho raised their target price on shares of STAAR Surgical from $45.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price objective on shares of STAAR Surgical in a research note on Monday, April 1st. Finally, William Blair upgraded STAAR Surgical from a “market perform” rating to an “outperform” rating in a report on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.38.

STAAR Surgical Price Performance

NASDAQ STAA opened at $45.54 on Friday. The stock’s fifty day moving average price is $40.78 and its 200 day moving average price is $35.80. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 103.93 and a beta of 0.80. STAAR Surgical has a 1 year low of $26.66 and a 1 year high of $73.03.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Monday, February 26th. The medical instruments supplier reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). STAAR Surgical had a return on equity of 8.73% and a net margin of 6.62%. The business had revenue of $76.27 million for the quarter, compared to analysts’ expectations of $75.94 million. During the same period in the prior year, the business posted $0.04 earnings per share. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. Research analysts expect that STAAR Surgical will post 0.03 earnings per share for the current 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.