Dynamic Technology Lab Private Ltd Buys Shares of 46,326 STAAR Surgical Company $STAA

Dynamic Technology Lab Private Ltd bought a new stake in STAAR Surgical Company (NASDAQ:STAA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 46,326 shares of the medical instruments supplier’s stock, valued at approximately $1,070,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STAA. Balyasny Asset Management L.P. purchased a new stake in STAAR Surgical in the third quarter valued at $48,729,000. Magnetar Financial LLC purchased a new stake in STAAR Surgical in the third quarter valued at $32,361,000. Goldman Sachs Group Inc. raised its position in STAAR Surgical by 112.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock valued at $47,952,000 after purchasing an additional 1,100,484 shares during the period. Defender Capital LLC. purchased a new stake in STAAR Surgical in the fourth quarter valued at $15,429,000. Finally, Water Island Capital LLC purchased a new stake in STAAR Surgical in the third quarter valued at $17,689,000. Hedge funds and other institutional investors own 96.70% of the company’s stock.

STAAR Surgical Price Performance

STAA stock opened at $28.37 on Friday. The company has a current ratio of 5.12, a quick ratio of 4.31 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.41 billion, a PE ratio of -65.98 and a beta of 1.23. STAAR Surgical Company has a 12-month low of $15.59 and a 12-month high of $35.87. The business’s fifty day moving average price is $27.65 and its 200 day moving average price is $23.23.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The firm had revenue of $93.52 million for the quarter, compared to the consensus estimate of $78.72 million. During the same quarter in the previous year, the business earned ($1.10) EPS. The company’s quarterly revenue was up 119.6% compared to the same quarter last year. On average, sell-side analysts anticipate that STAAR Surgical Company will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STAA. Canaccord Genuity Group boosted their price objective on STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Piper Sandler boosted their price objective on STAAR Surgical from $16.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Mizuho boosted their price objective on STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Wall Street Zen upgraded STAAR Surgical from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Stifel Nicolaus boosted their price objective on STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.81.

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.