Maxi Investments CY Ltd Acquires New Shares in STAAR Surgical Company $STAA

Maxi Investments CY Ltd acquired a new position in STAAR Surgical Company (NASDAQ:STAA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 18,700 shares of the medical instruments supplier’s stock, valued at approximately $432,000.

A number of other hedge funds have also bought and sold shares of the business. Wolverine Asset Management LLC boosted its holdings in shares of STAAR Surgical by 56.2% during the 4th quarter. Wolverine Asset Management LLC now owns 11,589 shares of the medical instruments supplier’s stock valued at $268,000 after acquiring an additional 4,168 shares during the last quarter. Strs Ohio lifted its position in STAAR Surgical by 156.9% during the fourth quarter. Strs Ohio now owns 29,800 shares of the medical instruments supplier’s stock valued at $688,000 after purchasing an additional 18,200 shares during the period. UBS Group AG lifted its position in STAAR Surgical by 39.2% during the fourth quarter. UBS Group AG now owns 327,852 shares of the medical instruments supplier’s stock valued at $7,570,000 after purchasing an additional 92,321 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in STAAR Surgical by 20.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,931 shares of the medical instruments supplier’s stock worth $391,000 after purchasing an additional 2,855 shares during the last quarter. Finally, Defender Capital LLC. purchased a new stake in STAAR Surgical in the fourth quarter worth approximately $15,429,000. Hedge funds and other institutional investors own 96.70% of the company’s stock.

STAAR Surgical Stock Down 1.7%

NASDAQ:STAA opened at $27.28 on Friday. The stock has a market cap of $1.36 billion, a PE ratio of -16.74 and a beta of 1.20. The business’s 50-day simple moving average is $21.56 and its two-hundred day simple moving average is $22.49. STAAR Surgical Company has a 52 week low of $15.59 and a 52 week high of $30.81.

STAAR Surgical (NASDAQ:STAA) last issued its earnings results on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.51). STAAR Surgical had a negative net margin of 33.60% and a negative return on equity of 10.03%. The business had revenue of $57.80 million for the quarter, compared to the consensus estimate of $75.54 million. STAAR Surgical’s revenue was up 18.0% on a year-over-year basis. Sell-side analysts anticipate that STAAR Surgical Company will post -0.03 earnings per share for the current fiscal year.

Insider Activity at STAAR Surgical

In related news, Director Broadwood Partners, L.P. bought 316,017 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $18.61 per share, for a total transaction of $5,881,076.37. Following the completion of the transaction, the director owned 16,123,842 shares in the company, valued at $300,064,699.62. The trade was a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 670,213 shares of company stock valued at $12,266,249 over the last quarter. 0.59% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wells Fargo & Company cut their price objective on STAAR Surgical from $30.75 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, March 5th. Wedbush lifted their target price on STAAR Surgical from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Wall Street Zen raised STAAR Surgical to a “hold” rating in a report on Saturday, April 11th. Morgan Stanley started coverage on STAAR Surgical in a research report on Friday, January 16th. They issued an “underweight” rating and a $13.00 price target for the company. Finally, Jefferies Financial Group decreased their price objective on STAAR Surgical from $28.00 to $21.50 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.93.

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.