Rhumbline Advisers Lowers Holdings in STAAR Surgical Company (STAA)
Rhumbline Advisers trimmed its position in STAAR Surgical Company (NASDAQ:STAA) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,136 shares of the medical instruments supplier’s stock after selling 145 shares during the quarter. Rhumbline Advisers owned 0.11% of STAAR Surgical worth $498,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. purchased a new stake in shares of STAAR Surgical in the 1st quarter worth $111,000. Simplex Trading LLC lifted its holdings in shares of STAAR Surgical by 1,798.8% in the 2nd quarter. Simplex Trading LLC now owns 12,779 shares of the medical instruments supplier’s stock worth $138,000 after buying an additional 12,106 shares during the period. Trexquant Investment LP lifted its holdings in shares of STAAR Surgical by 30.8% in the 1st quarter. Trexquant Investment LP now owns 22,105 shares of the medical instruments supplier’s stock worth $217,000 after buying an additional 5,205 shares during the period. American International Group Inc. lifted its holdings in shares of STAAR Surgical by 7.1% in the 1st quarter. American International Group Inc. now owns 24,648 shares of the medical instruments supplier’s stock worth $242,000 after buying an additional 1,631 shares during the period. Finally, Strs Ohio purchased a new stake in shares of STAAR Surgical in the 1st quarter worth $251,000. Institutional investors and hedge funds own 76.54% of the company’s stock.
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Shares of STAAR Surgical Company (STAA) opened at 13.40 on Thursday. The firm has a 50 day moving average price of $11.91 and a 200 day moving average price of $10.47. STAAR Surgical Company has a one year low of $7.45 and a one year high of $13.75. The stock’s market capitalization is $550.85 million.
STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings data on Wednesday, August 2nd. The medical instruments supplier reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.04. STAAR Surgical had a negative return on equity of 8.69% and a negative net margin of 6.06%. The business had revenue of $21.90 million during the quarter, compared to analysts’ expectations of $22.15 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. Analysts predict that STAAR Surgical Company will post ($0.11) earnings per share for the current fiscal year.
Several equities research analysts have weighed in on the company. Canaccord Genuity upgraded STAAR Surgical from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Monday, September 25th. Zacks Investment Research upgraded STAAR Surgical from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. TheStreet upgraded STAAR Surgical from a “d+” rating to a “c” rating in a report on Tuesday, August 15th. BidaskClub upgraded STAAR Surgical from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th. Finally, Benchmark Co. upped their target price on STAAR Surgical from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, August 14th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. STAAR Surgical presently has a consensus rating of “Buy” and an average target price of $13.33.
About STAAR Surgical
STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery.
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