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

Key Points

• Crcm LP opened a new position in STAAR Surgical during the first quarter, buying 100,000 shares worth about $1.87 million. The stake represents roughly 1.3% of Crcm LP’s holdings and about 0.20% of STAAR Surgical.
• Institutional ownership remains very high, with 96.70% of STAAR Surgical shares held by hedge funds and other institutional investors. Several large funds, including Broadwood Capital, Soleus Capital, and Goldman Sachs, also increased their positions recently.
• Analysts are mixed on the stock: the consensus rating is Hold with an average price target of $27.81, though some firms have recently raised targets or upgraded the shares. STAAR Surgical also reported better-than-expected quarterly results, with revenue and EPS both beating estimates.

Crcm LP acquired a new position in shares of STAAR Surgical Company (NASDAQ:STAA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 100,000 shares of the medical instruments supplier's stock, valued at approximately $1,870,000. STAAR Surgical makes up approximately 1.3% of Crcm LP's holdings, making the stock its 5th biggest position. Crcm LP owned approximately 0.20% of STAAR Surgical at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in STAA. Broadwood Capital Inc. raised its holdings in STAAR Surgical by 11.1% in the fourth quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier's stock valued at $346,800,000 after acquiring an additional 1,500,000 shares in the last quarter. Soleus Capital Management L.P. grew its holdings in STAAR Surgical by 16.5% during the 2nd quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier's stock worth $50,084,000 after acquiring an additional 421,840 shares in the last quarter. Yunqi Capital Ltd grew its holdings in STAAR Surgical by 0.3% during the 4th quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier's stock worth $57,890,000 after acquiring an additional 7,069 shares in the last quarter. Magnetar Financial LLC grew its holdings in STAAR Surgical by 105.3% during the 4th quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier's stock worth $57,087,000 after acquiring an additional 1,268,019 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of STAAR Surgical by 112.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier's stock valued at $47,952,000 after purchasing an additional 1,100,484 shares during the last quarter. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on STAA shares. Wedbush restated an "outperform" rating and issued a $40.00 price objective on shares of STAAR Surgical in a report on Wednesday. Wall Street Zen upgraded shares of STAAR Surgical from a "hold" rating to a "buy" rating in a research note on Sunday, July 5th. Stifel Nicolaus increased their target price on STAAR Surgical from $18.00 to $31.00 and gave the company a "hold" rating in a report on Thursday, May 14th. Wells Fargo & Company raised their price target on STAAR Surgical from $16.00 to $25.00 and gave the company an "equal weight" rating in a research note on Friday, May 15th. Finally, Canaccord Genuity Group lifted their price target on STAAR Surgical from $27.00 to $32.00 and gave the stock a "buy" rating in a report 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $27.81.

STAAR Surgical Price Performance

Shares of NASDAQ:STAA opened at $24.71 on Thursday. The company's fifty day moving average price is $29.18 and its 200 day moving average price is $23.84. STAAR Surgical Company has a 12 month low of $15.59 and a 12 month 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 firm has a market capitalization of $1.23 billion, a P/E ratio of -57.46 and a beta of 1.23.

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

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.

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