Geneva Capital Management LLC Lowers Position in STAAR Surgical (NASDAQ:STAA)

Geneva Capital Management LLC cut its holdings in shares of STAAR Surgical (NASDAQ:STAA) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 918,156 shares of the medical instruments supplier’s stock after selling 35,822 shares during the quarter. Geneva Capital Management LLC owned approximately 1.88% of STAAR Surgical worth $28,656,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its stake in STAAR Surgical by 18.0% during the fourth quarter. Handelsbanken Fonder AB now owns 10,500 shares of the medical instruments supplier’s stock worth $328,000 after acquiring an additional 1,600 shares during the last quarter. Defender Capital LLC. increased its holdings in STAAR Surgical by 33.0% during the 4th quarter. Defender Capital LLC. now owns 722,532 shares of the medical instruments supplier’s stock worth $22,550,000 after purchasing an additional 179,135 shares during the period. Seven Eight Capital LP increased its holdings in STAAR Surgical by 369.2% during the 3rd quarter. Seven Eight Capital LP now owns 46,167 shares of the medical instruments supplier’s stock worth $1,855,000 after purchasing an additional 36,327 shares during the period. Invesco Ltd. increased its holdings in STAAR Surgical by 121.6% during the 3rd quarter. Invesco Ltd. now owns 165,661 shares of the medical instruments supplier’s stock worth $6,656,000 after purchasing an additional 90,896 shares during the period. Finally, Citigroup Inc. increased its holdings in STAAR Surgical by 14.5% during the 3rd quarter. Citigroup Inc. now owns 19,163 shares of the medical instruments supplier’s stock worth $770,000 after purchasing an additional 2,434 shares during the period. 96.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STAA. Canaccord Genuity Group cut their price target on STAAR Surgical from $46.00 to $43.00 and set a “hold” rating on the stock in a report on Wednesday. Piper Sandler increased their price objective on shares of STAAR Surgical from $33.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday. Mizuho increased their price target on shares of STAAR Surgical from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Wednesday. Finally, William Blair raised shares of STAAR Surgical from a “market perform” rating to an “outperform” rating in a report on Thursday, April 4th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, STAAR Surgical presently has an average rating of “Hold” and a consensus price target of $47.13.

STAAR Surgical Trading Up 4.5 %

NASDAQ:STAA traded up $1.84 during mid-day trading on Thursday, hitting $42.86. The company had a trading volume of 809,379 shares, compared to its average volume of 734,185. STAAR Surgical has a 1 year low of $26.66 and a 1 year high of $68.27. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 99.67 and a beta of 0.80. The business has a fifty day simple moving average of $42.13 and a 200-day simple moving average of $35.87.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Tuesday, May 7th. The medical instruments supplier reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.12). The firm had revenue of $77.40 million during the quarter, compared to the consensus estimate of $75.34 million. STAAR Surgical had a net margin of 6.62% and a return on equity of 8.73%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. As a group, research analysts anticipate that STAAR Surgical will post 0.03 earnings per share for the current year.

Insider Buying and Selling at STAAR Surgical

In other news, Director Aimee S. Weisner bought 1,750 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $38.11 per share, with a total value of $66,692.50. Following the purchase, the director now directly owns 10,864 shares in the company, valued at $414,027.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

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.