STAAR Surgical Company $STAA Stake Boosted by Yunqi Capital Ltd

Yunqi Capital Ltd increased its position in STAAR Surgical Company (NASDAQ:STAA) by 3.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,500,061 shares of the medical instruments supplier’s stock after acquiring an additional 88,773 shares during the period. STAAR Surgical comprises about 39.3% of Yunqi Capital Ltd’s investment portfolio, making the stock its biggest holding. Yunqi Capital Ltd owned 5.03% of STAAR Surgical worth $67,177,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of STAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in STAAR Surgical by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock worth $518,000 after purchasing an additional 1,267 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of STAAR Surgical by 33.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier’s stock worth $9,606,000 after purchasing an additional 136,390 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of STAAR Surgical by 11.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,347 shares of the medical instruments supplier’s stock worth $2,175,000 after purchasing an additional 12,841 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of STAAR Surgical by 691.0% in the second quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock worth $61,000 after buying an additional 3,151 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of STAAR Surgical by 0.3% in the second quarter. Geode Capital Management LLC now owns 1,192,821 shares of the medical instruments supplier’s stock worth $20,018,000 after buying an additional 3,335 shares during the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.

Analyst Upgrades and Downgrades

STAA has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of STAAR Surgical from $30.75 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, March 5th. BTIG Research reiterated a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Wedbush started coverage on shares of STAAR Surgical in a research report on Tuesday, February 3rd. They set a “neutral” rating and a $26.00 price objective for the company. Stifel Nicolaus reduced their price objective on STAAR Surgical from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, March 4th. Finally, Morgan Stanley began coverage on STAAR Surgical in a report on Friday, January 16th. They issued an “underweight” rating and a $13.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, STAAR Surgical currently has an average rating of “Reduce” and a consensus target price of $19.21.

Insider Buying and Selling

In other STAAR Surgical news, Director Broadwood Partners, L.P. acquired 316,017 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $18.61 per share, for a total transaction of $5,881,076.37. Following the completion of the transaction, the director directly owned 16,123,842 shares of the company’s stock, valued at approximately $300,064,699.62. The trade was a 2.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 1,104,351 shares of company stock worth $21,690,426 over the last quarter. 0.59% of the stock is owned by company insiders.

STAAR Surgical Price Performance

STAA opened at $17.85 on Wednesday. The company has a 50 day simple moving average of $18.96 and a two-hundred day simple moving average of $23.53. The firm has a market cap of $883.81 million, a P/E ratio of -10.95 and a beta of 1.04. STAAR Surgical Company has a 1-year low of $14.69 and a 1-year high of $30.81.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) 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 firm had revenue of $57.80 million for the quarter, compared to the consensus estimate of $75.54 million. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. Equities analysts anticipate that STAAR Surgical Company will post -1.14 earnings per share for the current year.

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.