Susquehanna Fundamental Investments LLC Acquires Shares of 71,339 STAAR Surgical (NASDAQ:STAA)

Susquehanna Fundamental Investments LLC acquired a new stake in STAAR Surgical (NASDAQ:STAA) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 71,339 shares of the medical instruments supplier’s stock, valued at approximately $2,731,000. Susquehanna Fundamental Investments LLC owned about 0.15% of STAAR Surgical at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Broadwood Capital Inc. boosted its position in STAAR Surgical by 13.7% in the 4th quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock valued at $328,886,000 after buying an additional 1,273,408 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of STAAR Surgical by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,468,710 shares of the medical instruments supplier’s stock worth $170,678,000 after purchasing an additional 43,083 shares during the last quarter. Defender Capital LLC. lifted its position in shares of STAAR Surgical by 1.1% during the first quarter. Defender Capital LLC. now owns 730,387 shares of the medical instruments supplier’s stock worth $27,959,000 after purchasing an additional 7,855 shares during the last quarter. Norges Bank bought a new position in shares of STAAR Surgical during the fourth quarter worth about $13,615,000. Finally, Principal Financial Group Inc. lifted its position in shares of STAAR Surgical by 7.7% during the first quarter. Principal Financial Group Inc. now owns 302,669 shares of the medical instruments supplier’s stock worth $11,586,000 after purchasing an additional 21,662 shares during the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STAA. 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 research report on Wednesday, May 8th. Piper Sandler increased their price target on shares of STAAR Surgical from $33.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Morgan Stanley cut shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $50.00 to $37.00 in a research report on Monday. Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price on shares of STAAR Surgical in a research note on Monday, April 1st. Finally, Canaccord Genuity Group decreased their target price on STAAR Surgical from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, STAAR Surgical currently has a consensus rating of “Hold” and an average price target of $47.22.

STAAR Surgical Stock Performance

Shares of STAA traded down $1.75 during mid-day trading on Monday, reaching $45.36. 418,715 shares of the company’s stock traded hands, compared to its average volume of 677,967. The business’s 50-day moving average price is $42.54 and its 200-day moving average price is $38.52. The stock has a market capitalization of $2.23 billion, a P/E ratio of 151.97 and a beta of 0.59. STAAR Surgical has a 12 month low of $26.66 and a 12 month high of $58.35.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The business had revenue of $77.40 million for the quarter, compared to the consensus estimate of $75.34 million. STAAR Surgical had a net margin of 4.69% and a return on equity of 6.83%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.05 EPS. Equities research analysts anticipate that STAAR Surgical will post 0.08 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.