Squarepoint Ops LLC Sells 158,429 Shares of STAAR Surgical Company $STAA

Squarepoint Ops LLC cut its holdings in shares of STAAR Surgical Company (NASDAQ:STAA) by 45.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 188,292 shares of the medical instruments supplier’s stock after selling 158,429 shares during the quarter. Squarepoint Ops LLC’s holdings in STAAR Surgical were worth $5,402,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in STAA. Caitong International Asset Management Co. Ltd lifted its holdings in shares of STAAR Surgical by 2,605.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after acquiring an additional 1,016 shares during the last quarter. Ascentis Independent Advisors bought a new position in shares of STAAR Surgical during the 1st quarter valued at $77,000. Russell Investments Group Ltd. raised its position in STAAR Surgical by 9,928.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after purchasing an additional 4,468 shares during the period. Tower Research Capital LLC TRC raised its position in STAAR Surgical by 375.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after purchasing an additional 4,673 shares during the period. Finally, Angeles Wealth Management LLC bought a new stake in STAAR Surgical in the second quarter worth $209,000. 96.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STAA has been the subject of several analyst reports. William Blair set a $33.00 price target on shares of STAAR Surgical in a research report on Thursday, August 13th. Piper Sandler reiterated a “neutral” rating on shares of STAAR Surgical in a report on Thursday, August 13th. Wall Street Zen cut STAAR Surgical from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings upgraded STAAR Surgical from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th. Finally, UBS Group set a $28.00 price target on STAAR Surgical in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, STAAR Surgical presently has a consensus rating of “Reduce” and an average price target of $28.40.

STAAR Surgical Stock Down 3.2%

Shares of STAAR Surgical stock opened at $22.66 on Friday. The firm has a market cap of $1.14 billion, a PE ratio of 323.76 and a beta of 1.21. STAAR Surgical Company has a 12-month low of $15.59 and a 12-month high of $35.87. The company’s fifty day simple moving average is $24.56 and its two-hundred day simple moving average is $24.93.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings data on Wednesday, August 12th. The medical instruments supplier reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.17. The firm had revenue of $93.53 million for the quarter, compared to analysts’ expectations of $90.60 million. STAAR Surgical had a net margin of 1.13% and a return on equity of 9.05%. The company’s revenue for the quarter was up 111.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.34) earnings per share. As a group, sell-side analysts expect that STAAR Surgical Company will post 0.39 earnings per share for the current fiscal year.

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.