Renaissance Technologies LLC lifted its stake in shares of STAAR Surgical (NASDAQ:STAA) by 18.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 318,400 shares of the medical instruments supplier’s stock after acquiring an additional 48,900 shares during the quarter. Renaissance Technologies LLC’s holdings in STAAR Surgical were worth $4,935,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. King Luther Capital Management Corp bought a new position in STAAR Surgical in the 4th quarter worth approximately $319,000. American Century Companies Inc. bought a new position in STAAR Surgical in the 4th quarter worth approximately $523,000. California Public Employees Retirement System boosted its stake in STAAR Surgical by 8.7% in the 3rd quarter. California Public Employees Retirement System now owns 48,711 shares of the medical instruments supplier’s stock worth $606,000 after purchasing an additional 3,911 shares during the period. Algert Global LLC bought a new position in STAAR Surgical in the 4th quarter worth approximately $764,000. Finally, Wells Fargo & Company MN boosted its stake in STAAR Surgical by 22.9% in the 3rd quarter. Wells Fargo & Company MN now owns 65,055 shares of the medical instruments supplier’s stock worth $810,000 after purchasing an additional 12,143 shares during the period. Institutional investors own 78.95% of the company’s stock.
Several research analysts have weighed in on the company. BidaskClub upgraded STAAR Surgical from a “hold” rating to a “buy” rating in a research note on Friday, March 23rd. Zacks Investment Research downgraded STAAR Surgical from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.67.
In other news, insider Samuel J. Gesten sold 2,833 shares of the company’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $16.05, for a total transaction of $45,469.65. Following the sale, the insider now directly owns 38,316 shares of the company’s stock, valued at approximately $614,971.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Caren L. Mason sold 6,667 shares of the company’s stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $16.09, for a total value of $107,272.03. Following the sale, the chief executive officer now directly owns 51,513 shares in the company, valued at $828,844.17. The disclosure for this sale can be found here. Insiders sold a total of 13,479 shares of company stock valued at $216,561 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.
STAA stock opened at $14.25 on Tuesday. STAAR Surgical has a 1-year low of $8.95 and a 1-year high of $17.60. The company has a quick ratio of 2.13, a current ratio of 2.82 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $577.78, a price-to-earnings ratio of 1,425.00 and a beta of 1.26.
STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). STAAR Surgical had a negative return on equity of 2.28% and a negative net margin of 2.36%. The business had revenue of $24.85 million during the quarter. sell-side analysts expect that STAAR Surgical will post 0.03 EPS for the current fiscal year.
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STAAR Surgical 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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