Alliancebernstein L.P. Reduces Stake in STAAR Surgical Company (STAA)
Alliancebernstein L.P. cut its position in STAAR Surgical Company (NASDAQ:STAA) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,400 shares of the medical instruments supplier’s stock after selling 900 shares during the period. Alliancebernstein L.P.’s holdings in STAAR Surgical were worth $523,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of STAA. American International Group Inc. increased its stake in STAAR Surgical by 7.1% in the first quarter. American International Group Inc. now owns 24,648 shares of the medical instruments supplier’s stock worth $242,000 after buying an additional 1,631 shares during the period. Trexquant Investment LP increased its stake in STAAR Surgical by 30.8% in the first quarter. Trexquant Investment LP now owns 22,105 shares of the medical instruments supplier’s stock worth $217,000 after buying an additional 5,205 shares during the period. Bank of New York Mellon Corp increased its stake in STAAR Surgical by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 160,186 shares of the medical instruments supplier’s stock worth $1,569,000 after buying an additional 1,392 shares during the period. Wells Fargo & Company MN increased its stake in STAAR Surgical by 30.6% in the first quarter. Wells Fargo & Company MN now owns 67,262 shares of the medical instruments supplier’s stock worth $659,000 after buying an additional 15,769 shares during the period. Finally, Strs Ohio acquired a new stake in STAAR Surgical during the first quarter worth $251,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.
Shares of STAAR Surgical Company (NASDAQ:STAA) opened at 10.65 on Wednesday. The company’s market capitalization is $435.93 million. The stock has a 50 day moving average of $10.35 and a 200-day moving average of $9.90. STAAR Surgical Company has a 12-month low of $7.46 and a 12-month high of $11.50.
STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings data on Wednesday, August 2nd. The medical instruments supplier reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. STAAR Surgical had a negative net margin of 6.06% and a negative return on equity of 8.69%. The firm had revenue of $21.90 million during the quarter, compared to analysts’ expectations of $22.15 million. During the same period last year, the business earned ($0.02) earnings per share. STAAR Surgical’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts forecast that STAAR Surgical Company will post ($0.13) EPS for the current year.
A number of research firms have recently weighed in on STAA. Canaccord Genuity boosted their target price on shares of STAAR Surgical from $9.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of STAAR Surgical from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th.
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. It operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery.
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