25,693 Shares in STAAR Surgical (NASDAQ:STAA) Purchased by ClariVest Asset Management LLC

ClariVest Asset Management LLC acquired a new position in STAAR Surgical (NASDAQ:STAA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,693 shares of the medical instruments supplier’s stock, valued at approximately $1,223,000. ClariVest Asset Management LLC owned approximately 0.05% of STAAR Surgical as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in STAA. Broadwood Capital Inc. grew its holdings in shares of 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 acquiring an additional 1,273,408 shares in the last quarter. Norges Bank acquired a new position in shares of STAAR Surgical during the 4th quarter worth approximately $13,615,000. Yunqi Capital Ltd raised its stake in shares of STAAR Surgical by 162.0% during the 1st quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier’s stock worth $19,726,000 after purchasing an additional 318,600 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of STAAR Surgical by 296.0% in the 4th quarter. BNP Paribas Financial Markets now owns 281,547 shares of the medical instruments supplier’s stock valued at $8,787,000 after buying an additional 210,443 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of STAAR Surgical in the first quarter valued at $7,833,000. Institutional investors own 96.70% of the company’s stock.

STAAR Surgical Stock Performance

NASDAQ:STAA opened at $30.31 on Thursday. STAAR Surgical has a 52 week low of $26.66 and a 52 week high of $52.68. The firm’s 50-day simple moving average is $38.14 and its 200 day simple moving average is $40.49. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 97.77 and a beta of 0.58.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The business had revenue of $99.01 million during the quarter, compared to analyst estimates of $95.22 million. STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Sell-side analysts anticipate that STAAR Surgical will post 0.13 EPS for the current year.

Insiders Place Their Bets

In other news, Director Arthur C. Butcher bought 1,315 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $37.99 per share, for a total transaction of $49,956.85. Following the transaction, the director now owns 4,208 shares of the company’s stock, valued at $159,861.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on STAA shares. Morgan Stanley cut shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $50.00 to $37.00 in a research note on Monday, July 15th. BTIG Research lifted their price target on STAAR Surgical from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Canaccord Genuity Group dropped their price objective on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Thursday, August 8th. Finally, Stifel Nicolaus dropped their price target on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.57.

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.