Envestnet Asset Management Inc. Buys 10,387 Shares of STAAR Surgical (NASDAQ:STAA)

Envestnet Asset Management Inc. boosted its stake in STAAR Surgical (NASDAQ:STAA) by 76.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,063 shares of the medical instruments supplier’s stock after purchasing an additional 10,387 shares during the period. Envestnet Asset Management Inc. owned about 0.05% of STAAR Surgical worth $3,670,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. IFP Advisors Inc bought a new position in shares of STAAR Surgical during the first quarter valued at $26,000. Quantbot Technologies LP bought a new position in shares of STAAR Surgical during the first quarter valued at $34,000. Point72 Hong Kong Ltd bought a new position in shares of STAAR Surgical during the first quarter valued at $47,000. The PNC Financial Services Group Inc. bought a new position in shares of STAAR Surgical during the first quarter valued at $48,000. Finally, Eaton Vance Management bought a new position in shares of STAAR Surgical during the first quarter valued at $62,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on STAA. Oppenheimer began coverage on shares of STAAR Surgical in a research report on Thursday, July 8th. They set a “market perform” rating and a $150.00 price objective for the company. Zacks Investment Research upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating and set a $161.00 price target for the company in a report on Thursday, August 12th. Finally, TheStreet upgraded shares of STAAR Surgical from a “c+” rating to a “b” rating in a report on Monday, August 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, STAAR Surgical has a consensus rating of “Hold” and an average target price of $153.67.

STAAR Surgical stock opened at $139.54 on Wednesday. STAAR Surgical has a 1-year low of $52.07 and a 1-year high of $163.08. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of 332.24 and a beta of 0.98. The firm’s fifty day moving average price is $140.15 and its two-hundred day moving average price is $129.06.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings data on Tuesday, August 3rd. The medical instruments supplier reported $0.17 EPS for the quarter, beating the consensus estimate of $0.03 by $0.14. The company had revenue of $62.37 million during the quarter, compared to analysts’ expectations of $52.61 million. STAAR Surgical had a net margin of 10.08% and a return on equity of 14.07%. STAAR Surgical’s revenue for the quarter was up 77.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share. As a group, sell-side analysts forecast that STAAR Surgical will post 0.55 earnings per share for the current fiscal year.

In other STAAR Surgical news, VP James E. Francese sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 18th. The shares were sold at an average price of $146.91, for a total value of $2,203,650.00. Following the completion of the transaction, the vice president now owns 57,630 shares of the company’s stock, valued at approximately $8,466,423.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Broadwood Partners, L.P. sold 67,708 shares of the business’s stock in a transaction that occurred on Thursday, June 24th. The stock was sold at an average price of $157.83, for a total transaction of $10,686,353.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 252,138 shares of company stock valued at $39,212,821. 3.60% of the stock is owned by corporate insiders.

STAAR Surgical Company Profile

STAAR Surgical Co engages in the development, manufacture, production, marketing, and sale of implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It specializes in refractive and cataract solutions. Its products include intraocular lens and implantable collamer lens.

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Institutional Ownership by Quarter for STAAR Surgical (NASDAQ:STAA)

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