SG Americas Securities LLC Reduces Holdings in STAAR Surgical Company $STAA

SG Americas Securities LLC reduced its position in STAAR Surgical Company (NASDAQ:STAA) by 76.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,300 shares of the medical instruments supplier’s stock after selling 19,960 shares during the quarter. SG Americas Securities LLC’s holdings in STAAR Surgical were worth $118,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STAA. Balyasny Asset Management L.P. purchased a new stake in shares of STAAR Surgical during the third quarter worth $48,729,000. Broadwood Capital Inc. lifted its stake in shares of STAAR Surgical by 11.1% in the fourth quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock worth $346,800,000 after buying an additional 1,500,000 shares in the last quarter. Magnetar Financial LLC lifted its stake in shares of STAAR Surgical by 105.3% in the fourth quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock worth $57,087,000 after buying an additional 1,268,019 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in STAAR Surgical by 112.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock valued at $47,952,000 after acquiring an additional 1,100,484 shares in the last quarter. Finally, Defender Capital LLC. purchased a new stake in STAAR Surgical during the 4th quarter valued at about $15,429,000. Hedge funds and other institutional investors own 96.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Canaccord Genuity Group increased their price objective on shares of STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of STAAR Surgical in a research report on Friday, May 29th. Stifel Nicolaus increased their price target on STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, May 14th. Weiss Ratings upgraded STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 25th. Finally, Wells Fargo & Company upped their target price on STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.81.

STAAR Surgical Stock Performance

STAAR Surgical stock opened at $27.78 on Tuesday. The firm has a 50 day simple moving average of $29.39 and a 200-day simple moving average of $23.70. STAAR Surgical Company has a 1-year low of $15.59 and a 1-year high of $35.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.12 and a quick ratio of 4.31. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -64.60 and a beta of 1.23.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. STAAR Surgical had a negative net margin of 7.24% and a positive return on equity of 3.31%. The business had revenue of $93.52 million during the quarter, compared to the consensus estimate of $78.72 million. During the same quarter last year, the firm earned ($1.10) EPS. The business’s revenue was up 119.6% compared to the same quarter last year. On average, analysts expect that STAAR Surgical Company will post 0.13 EPS 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. 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.