STAAR Surgical (NASDAQ:STAA) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its stake in STAAR Surgical (NASDAQ:STAA) by 23.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,560 shares of the medical instruments supplier’s stock after selling 2,332 shares during the quarter. ProShare Advisors LLC’s holdings in STAAR Surgical were worth $360,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in STAA. GAMMA Investing LLC grew its stake in STAAR Surgical by 313.9% in the 1st quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock valued at $50,000 after acquiring an additional 992 shares during the period. Covestor Ltd boosted its stake in STAAR Surgical by 38.9% during the 1st quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock worth $103,000 after purchasing an additional 754 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in STAAR Surgical during the 2nd quarter worth $129,000. Larson Financial Group LLC acquired a new stake in STAAR Surgical during the 2nd quarter worth $130,000. Finally, Virtu Financial LLC acquired a new stake in STAAR Surgical during the 1st quarter worth $289,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Trading Down 0.6 %

Shares of STAA stock opened at $35.68 on Thursday. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 115.10 and a beta of 0.59. STAAR Surgical has a twelve month low of $26.66 and a twelve month high of $52.68. The company’s 50-day moving average price is $34.79 and its 200-day moving average price is $40.26.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.09). The company had revenue of $99.01 million during the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.23 earnings per share. As a group, equities research analysts predict that STAAR Surgical will post 0.17 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group lowered their target price on shares of 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 reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Thursday, September 19th. Stifel Nicolaus lowered their target price on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Morgan Stanley cut shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $50.00 to $37.00 in a research report on Monday, July 15th. Finally, BTIG Research boosted their price target on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $45.57.

Insider Activity at STAAR Surgical

In related news, Director Arthur C. Butcher acquired 1,315 shares of STAAR Surgical stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $37.99 per share, for a total transaction of $49,956.85. Following the acquisition, the director now owns 4,208 shares in the company, valued at $159,861.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by insiders.

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.