California State Teachers Retirement System increased its stake in shares of Staar Surgical Co. (NASDAQ:STAA) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,932 shares of the company’s stock after buying an additional 1,684 shares during the period. California State Teachers Retirement System owned about 0.21% of Staar Surgical worth $462,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of STAA. Broadwood Capital Inc. increased its stake in Staar Surgical by 20.5% in the first quarter. Broadwood Capital Inc. now owns 10,417,670 shares of the company’s stock valued at $76,987,000 after buying an additional 1,770,747 shares in the last quarter. Kennedy Capital Management Inc. acquired a new position in shares of Staar Surgical during the first quarter valued at about $1,104,000. Renaissance Technologies LLC raised its position in shares of Staar Surgical by 959.2% in the first quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock valued at $1,111,000 after buying an additional 136,200 shares during the last quarter. Shine Investment Advisory Services Inc. raised its position in shares of Staar Surgical by 24.9% in the second quarter. Shine Investment Advisory Services Inc. now owns 112,400 shares of the company’s stock valued at $619,000 after buying an additional 22,400 shares during the last quarter. Finally, Menta Capital LLC raised its position in shares of Staar Surgical by 26.9% in the first quarter. Menta Capital LLC now owns 75,840 shares of the company’s stock valued at $560,000 after buying an additional 16,096 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.
Staar Surgical Co. (NASDAQ:STAA) traded down 2.93% during trading on Tuesday, reaching $9.95. 109,133 shares of the company’s stock traded hands. Staar Surgical Co. has a 12-month low of $4.98 and a 12-month high of $10.30. The company’s market cap is $402.29 million. The company has a 50 day moving average price of $9.14 and a 200-day moving average price of $7.35.
Staar Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). Staar Surgical had a negative net margin of 16.00% and a negative return on equity of 7.12%. The business earned $21 million during the quarter, compared to analysts’ expectations of $19.88 million. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities research analysts forecast that Staar Surgical Co. will post ($0.30) EPS for the current fiscal year.
Several equities analysts recently issued reports on the stock. William Blair reissued a “market perform” rating on shares of Staar Surgical in a report on Thursday, August 4th. Zacks Investment Research raised shares of Staar Surgical from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Saturday, August 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Staar Surgical presently has a consensus rating of “Hold” and a consensus price target of $7.50.
Staar Surgical Company Profile
STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. The Company operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses (IOLs) used in cataract surgery and implantable collamer lenses (ICLs) used in refractive surgery.
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