American Capital Management Inc. Makes New $24.29 Million Investment in STAAR Surgical Company $STAA

Key Points

• American Capital Management purchased 846,659 STAAR Surgical shares worth approximately $24.29 million, giving it a 1.70% stake. Institutional investors collectively own 96.70% of the company.
• STAAR Surgical reported quarterly earnings of $0.39 per share, exceeding the $0.22 consensus estimate, while revenue rose 111.1% year over year to $93.53 million.
• Shares opened at $22.86, down 1.4%, and analysts maintain a consensus “Hold” rating with an average price target of $28.40.

American Capital Management Inc. purchased a new stake in STAAR Surgical Company (NASDAQ:STAA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 846,659 shares of the medical instruments supplier's stock, valued at approximately $24,291,000. American Capital Management Inc. owned approximately 1.70% of STAAR Surgical as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its holdings in STAAR Surgical by 2,605.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier's stock worth $28,000 after buying an additional 1,016 shares during the last quarter. Ascentis Independent Advisors bought a new position in STAAR Surgical during the first quarter worth $77,000. Russell Investments Group Ltd. boosted its holdings in shares of STAAR Surgical by 9,928.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier's stock worth $121,000 after buying an additional 4,468 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of STAAR Surgical by 375.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier's stock worth $99,000 after buying an additional 4,673 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in STAAR Surgical during the 3rd quarter worth $208,000. 96.70% of the stock is currently owned by institutional investors.

STAAR Surgical Trading Down 1.4%

STAA opened at $22.86 on Thursday. The company has a market cap of $1.15 billion, a P/E ratio of 326.62 and a beta of 1.26. The business's 50-day moving average price is $25.93 and its 200-day moving average price is $24.47. STAAR Surgical Company has a 12 month low of $15.59 and a 12 month high of $35.87.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The medical instruments supplier reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.17. STAAR Surgical had a net margin of 1.13% and a return on equity of 9.05%. The business had revenue of $93.53 million for the quarter, compared to analysts' expectations of $90.60 million. During the same quarter in the previous year, the business posted ($0.34) earnings per share. The firm's revenue for the quarter was up 111.1% compared to the same quarter last year. Equities research analysts forecast that STAAR Surgical Company will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on STAA shares. Stifel Nicolaus lowered their target price on STAAR Surgical from $31.00 to $28.00 and set a "hold" rating for the company in a report on Monday, August 17th. UBS Group set a $28.00 price objective on shares of STAAR Surgical in a research note on Monday, August 17th. Mizuho boosted their price target on shares of STAAR Surgical from $22.00 to $27.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Piper Sandler reiterated a "neutral" rating on shares of STAAR Surgical in a research note on Thursday, August 13th. Finally, Wedbush dropped their price target on STAAR Surgical from $40.00 to $37.00 and set an "outperform" rating on the stock in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, STAAR Surgical presently has a consensus rating of "Hold" and an average price target of $28.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source