Hsbc Holdings PLC Purchases 1,137 Shares of STAAR Surgical (NASDAQ:STAA)

Hsbc Holdings PLC lifted its position in shares of STAAR Surgical (NASDAQ:STAA) by 12.4% during the second quarter, Holdings Channel reports. The institutional investor owned 10,290 shares of the medical instruments supplier’s stock after purchasing an additional 1,137 shares during the period. Hsbc Holdings PLC’s holdings in STAAR Surgical were worth $492,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mutual of America Capital Management LLC lifted its position in shares of STAAR Surgical by 214.7% in the second quarter. Mutual of America Capital Management LLC now owns 26,459 shares of the medical instruments supplier’s stock valued at $1,260,000 after acquiring an additional 18,051 shares in the last quarter. Edgestream Partners L.P. bought a new stake in STAAR Surgical during the 2nd quarter valued at approximately $390,000. Renaissance Technologies LLC lifted its holdings in STAAR Surgical by 137.5% in the 2nd quarter. Renaissance Technologies LLC now owns 68,400 shares of the medical instruments supplier’s stock worth $3,257,000 after purchasing an additional 39,600 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in STAAR Surgical by 25.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 459,655 shares of the medical instruments supplier’s stock worth $21,884,000 after purchasing an additional 94,422 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in STAAR Surgical during the 2nd quarter valued at approximately $1,983,000. Institutional investors own 96.70% of the company’s stock.

Analyst Upgrades and Downgrades

STAA has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Thursday, September 19th. Morgan Stanley cut shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $50.00 to $37.00 in a research note on Monday, July 15th. BTIG Research raised their price objective on STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Stifel Nicolaus reduced their target price on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Finally, Canaccord Genuity Group dropped their price target on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.57.

Insider Activity at STAAR Surgical

In other news, Director Arthur C. Butcher bought 1,315 shares of STAAR Surgical stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $37.99 per share, with a total value of $49,956.85. Following the completion of the purchase, the director now owns 4,208 shares in the company, valued at approximately $159,861.92. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

STAAR Surgical Trading Down 0.2 %

Shares of NASDAQ STAA opened at $37.15 on Tuesday. STAAR Surgical has a 12-month low of $26.66 and a 12-month high of $52.68. The firm’s 50-day moving average price is $35.02 and its 200-day moving average price is $40.31. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 119.84 and a beta of 0.58.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.09). The company had revenue of $99.01 million for the quarter, compared to the consensus estimate of $95.22 million. STAAR Surgical had a return on equity of 5.60% and a net margin of 4.99%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. On average, equities analysts predict that STAAR Surgical will post 0.17 EPS for the current fiscal 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.