Defender Capital LLC. Has $12.37 Million Position in STAAR Surgical Company $STAA

Key Points

• Defender Capital reduced its STAAR Surgical stake by 33.1% in the second quarter, selling 213,355 shares and retaining 431,187 shares valued at approximately $12.37 million. The position represents about 4% of the firm’s portfolio and 0.87% of STAAR’s outstanding shares.
• STAAR Surgical reported quarterly EPS of $0.10, beating estimates of $0.05, while revenue reached $93.52 million versus expectations of $78.72 million. Revenue rose 119.6% year over year, though the company posted a negative net margin.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $26.94; price targets range from $25 to $40. Institutional investors own approximately 96.7% of the stock.

Defender Capital LLC. reduced its position in shares of STAAR Surgical Company (NASDAQ:STAA - Free Report) by 33.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 431,187 shares of the medical instruments supplier's stock after selling 213,355 shares during the period. STAAR Surgical accounts for approximately 4.0% of Defender Capital LLC.'s portfolio, making the stock its 9th largest position. Defender Capital LLC. owned 0.87% of STAAR Surgical worth $12,371,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its holdings in STAAR Surgical by 2,605.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier's stock valued at $28,000 after purchasing an additional 1,016 shares during the period. Ascentis Independent Advisors purchased a new stake in STAAR Surgical in the 1st quarter worth approximately $77,000. Tower Research Capital LLC TRC lifted its holdings in STAAR Surgical by 375.0% in the 2nd 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 during the period. Russell Investments Group Ltd. grew its position in shares of STAAR Surgical by 9,928.9% in 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 last quarter. Finally, Fifth Third Bancorp grew its position in shares of STAAR Surgical by 2,867.1% in the 1st quarter. Fifth Third Bancorp now owns 11,008 shares of the medical instruments supplier's stock worth $206,000 after buying an additional 10,637 shares during the last quarter. 96.70% of the stock is owned by institutional investors.

STAAR Surgical Stock Up 3.8%

STAA stock opened at $25.12 on Tuesday. STAAR Surgical Company has a fifty-two week low of $15.59 and a fifty-two week high of $35.87. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -58.42 and a beta of 1.26. The business's 50 day moving average price is $27.11 and its two-hundred day moving average price is $24.01. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12.

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

Wall Street Analyst Weigh In

STAA has been the subject of a number of recent analyst reports. Wall Street Zen downgraded STAAR Surgical from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Wedbush reiterated an "outperform" rating and issued a $40.00 price target on shares of STAAR Surgical in a report on Tuesday, August 4th. Piper Sandler boosted their price objective on shares of STAAR Surgical from $16.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Wells Fargo & Company upped their price objective on shares of STAAR Surgical from $16.00 to $25.00 and gave the stock an "equal weight" rating in a report on Friday, May 15th. Finally, Canaccord Genuity Group upped their price objective on shares of STAAR Surgical from $27.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $26.94.

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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