Crcm LP Takes $1.87 Million Position in STAAR Surgical Company $STAA

Crcm LP bought a new position in shares of STAAR Surgical Company (NASDAQ:STAA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 100,000 shares of the medical instruments supplier’s stock, valued at approximately $1,870,000. STAAR Surgical comprises about 1.3% of Crcm LP’s portfolio, making the stock its 5th largest holding.

A number of other hedge funds have also modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its holdings in shares of STAAR Surgical by 58.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,669 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 614 shares during the period. Invesco Ltd. boosted its stake in STAAR Surgical by 0.6% during the 3rd quarter. Invesco Ltd. now owns 150,896 shares of the medical instruments supplier’s stock worth $4,055,000 after purchasing an additional 956 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in STAAR Surgical by 2.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,535 shares of the medical instruments supplier’s stock worth $1,214,000 after purchasing an additional 1,234 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in STAAR Surgical by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock worth $518,000 after purchasing an additional 1,267 shares during the period. Finally, Deutsche Bank AG grew its position in STAAR Surgical by 3.7% during the 4th quarter. Deutsche Bank AG now owns 38,586 shares of the medical instruments supplier’s stock worth $891,000 after purchasing an additional 1,382 shares during the last quarter. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

STAAR Surgical Price Performance

Shares of NASDAQ STAA opened at $24.71 on Thursday. The stock has a fifty day moving average price of $29.18 and a 200 day moving average price of $23.84. STAAR Surgical Company has a 1-year low of $15.59 and a 1-year high of $35.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.12 and a quick ratio of 4.31. The company has a market cap of $1.23 billion, a PE ratio of -57.46 and a beta of 1.23.

STAAR Surgical (NASDAQ:STAA) last announced 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 negative net margin of 7.24% and a positive return on equity of 3.31%. The company had revenue of $93.52 million for the quarter, compared to analysts’ expectations of $78.72 million. During the same period in the previous year, the company posted ($1.10) EPS. STAAR Surgical’s revenue was up 119.6% compared to the same quarter last year. Sell-side analysts forecast that STAAR Surgical Company will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

STAA has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th. Piper Sandler increased their target price on shares of STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Wedbush reissued an “outperform” rating and set a $40.00 price target on shares of STAAR Surgical in a report on Wednesday. Weiss Ratings upgraded STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 25th. Finally, Mizuho upped their price objective on STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a research note 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. According to MarketBeat, STAAR Surgical currently has an average rating of “Hold” and a consensus target price of $27.81.

About STAAR Surgical

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.