CenterBook Partners LP Buys New Position in STAAR Surgical Company $STAA

Key Points

• CenterBook Partners LP initiated a new position in STAAR Surgical, buying 177,974 shares valued at about $4.1 million in the fourth quarter.
• STAAR Surgical reported quarterly earnings of $0.10 per share and revenue of $93.52 million, both ahead of analyst expectations, with revenue jumping 119.6% year over year.
• Analysts currently have a mixed view on the stock, with a consensus rating of Hold and an average price target of $27.81, while several firms recently raised their targets.

CenterBook Partners LP bought a new stake in STAAR Surgical Company (NASDAQ:STAA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 177,974 shares of the medical instruments supplier's stock, valued at approximately $4,109,000. CenterBook Partners LP owned 0.36% of STAAR Surgical as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in STAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of STAAR Surgical by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier's stock valued at $518,000 after purchasing an additional 1,267 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of STAAR Surgical by 33.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier's stock valued at $9,606,000 after purchasing an additional 136,390 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of STAAR Surgical by 11.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,347 shares of the medical instruments supplier's stock valued at $2,175,000 after purchasing an additional 12,841 shares during the period. Creative Planning boosted its position in shares of STAAR Surgical by 19.9% in the 2nd quarter. Creative Planning now owns 15,695 shares of the medical instruments supplier's stock valued at $263,000 after purchasing an additional 2,606 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of STAAR Surgical by 183.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 153,371 shares of the medical instruments supplier's stock valued at $2,574,000 after purchasing an additional 99,218 shares during the period. 96.70% of the stock is owned by institutional investors and hedge funds.

STAAR Surgical Stock Down 0.1%

STAAR Surgical stock opened at $29.96 on Tuesday. STAAR Surgical Company has a twelve month low of $15.59 and a twelve month high of $35.87. The stock has a 50 day moving average of $26.80 and a two-hundred day moving average of $23.14. The company has a current ratio of 5.12, a quick ratio of 4.31 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -69.67 and a beta of 1.23.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.05. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The company had revenue of $93.52 million during the quarter, compared to analysts' expectations of $78.72 million. During the same period last year, the firm earned ($1.10) EPS. The firm's revenue for the quarter was up 119.6% on a year-over-year basis. As a group, research analysts expect that STAAR Surgical Company will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Mizuho upped their target price on STAAR Surgical from $22.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Wedbush reissued an "outperform" rating and issued a $40.00 target price on shares of STAAR Surgical in a research report on Friday, May 29th. Wells Fargo & Company increased their price objective on STAAR Surgical from $16.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday, May 15th. Weiss Ratings cut STAAR Surgical from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 22nd. Finally, Canaccord Genuity Group increased their price objective on STAAR Surgical from $27.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $27.81.

Insider Activity at STAAR Surgical

In other STAAR Surgical news, Director Broadwood Partners, L.P. purchased 316,017 shares of STAAR Surgical stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $18.61 per share, with a total value of $5,881,076.37. Following the acquisition, the director directly owned 16,123,842 shares of the company's stock, valued at $300,064,699.62. This represents a 2.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders purchased 670,213 shares of company stock valued at $12,266,249. 39.90% of the stock is owned by company insiders.

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.

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