AIA Group Ltd Sells 1,876 Shares of STAAR Surgical (NASDAQ:STAA)

AIA Group Ltd trimmed its holdings in STAAR Surgical (NASDAQ:STAA) by 4.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,833 shares of the medical instruments supplier’s stock after selling 1,876 shares during the quarter. AIA Group Ltd’s holdings in STAAR Surgical were worth $1,150,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in STAAR Surgical by 8.3% in the 2nd quarter. BlackRock Inc. now owns 6,339,320 shares of the medical instruments supplier’s stock worth $333,258,000 after purchasing an additional 486,781 shares during the period. Vanguard Group Inc. boosted its position in shares of STAAR Surgical by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,425,627 shares of the medical instruments supplier’s stock valued at $218,002,000 after acquiring an additional 492,500 shares during the last quarter. Anatole Investment Management Ltd bought a new position in shares of STAAR Surgical during the 1st quarter valued at approximately $130,633,000. State Street Corp boosted its position in shares of STAAR Surgical by 4.2% during the 2nd quarter. State Street Corp now owns 1,754,495 shares of the medical instruments supplier’s stock valued at $92,234,000 after acquiring an additional 71,351 shares during the last quarter. Finally, Palo Alto Investors LP boosted its position in shares of STAAR Surgical by 8.6% during the 1st quarter. Palo Alto Investors LP now owns 1,347,322 shares of the medical instruments supplier’s stock valued at $86,161,000 after acquiring an additional 107,245 shares during the last quarter. 96.70% of the stock is currently owned by institutional investors.

STAAR Surgical Stock Down 0.8 %

Shares of STAA opened at $46.39 on Friday. The company has a market cap of $2.27 billion, a PE ratio of 107.88 and a beta of 0.86. The business has a fifty day moving average of $38.19 and a 200 day moving average of $35.44. STAAR Surgical has a 52-week low of $26.66 and a 52-week high of $73.13.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Monday, February 26th. The medical instruments supplier reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). STAAR Surgical had a return on equity of 8.73% and a net margin of 6.62%. The business had revenue of $76.27 million during the quarter, compared to analysts’ expectations of $75.94 million. During the same quarter in the previous year, the business earned $0.04 EPS. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. As a group, research analysts anticipate that STAAR Surgical will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other STAAR Surgical news, Director Aimee S. Weisner bought 1,750 shares of STAAR Surgical stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $38.11 per share, for a total transaction of $66,692.50. Following the completion of the purchase, the director now directly owns 10,864 shares in the company, valued at approximately $414,027.04. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on STAA shares. Canaccord Genuity Group increased their target price on STAAR Surgical from $32.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 target price on shares of STAAR Surgical in a research report on Monday, April 1st. Mizuho increased their target price on STAAR Surgical from $45.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. William Blair upgraded STAAR Surgical from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 4th. Finally, Piper Sandler lowered their price target on STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.38.

STAAR Surgical Company 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.