Polar Asset Management Partners Inc. Makes New $3.36 Million Investment in STAAR Surgical Company $STAA

Key Points

• Polar Asset Management Partners Inc. established a new stake in STAAR Surgical by buying 125,000 shares worth approximately $3.36 million, representing about 0.25% of the company.
• STAAR missed the most recent quarter with EPS of ($0.37) versus an expected $0.14 and revenue of $57.8M versus $75.5M expected, leaving the company with negative margins and a -10.03% ROE despite 18% year‑over‑year revenue growth.
• Insiders and institutions have been active—Broadwood Partners bought 316,017 shares (~$5.88M) and insiders bought 1,104,351 shares in the last 90 days—while institutional ownership is 96.7% and analysts hold a consensus Reduce rating with an average price target of $19.21.

Polar Asset Management Partners Inc. bought a new position in STAAR Surgical Company (NASDAQ:STAA - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 125,000 shares of the medical instruments supplier's stock, valued at approximately $3,359,000. Polar Asset Management Partners Inc. owned 0.25% of STAAR Surgical as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New York Life Investment Management LLC acquired a new stake in STAAR Surgical in the third quarter valued at about $2,243,000. Alpine Associates Management Inc. acquired a new position in STAAR Surgical during the 3rd quarter worth approximately $24,535,000. Versor Investments LP purchased a new position in shares of STAAR Surgical during the 3rd quarter worth approximately $5,708,000. Credit Industriel ET Commercial purchased a new position in shares of STAAR Surgical during the 3rd quarter worth approximately $3,258,000. Finally, ABC Arbitrage SA acquired a new stake in shares of STAAR Surgical in the 3rd quarter valued at approximately $6,632,000. Hedge funds and other institutional investors own 96.70% of the company's stock.

STAAR Surgical Price Performance

NASDAQ STAA opened at $17.47 on Friday. The business has a 50 day moving average price of $18.78 and a 200 day moving average price of $23.45. The company has a market capitalization of $864.94 million, a P/E ratio of -10.72 and a beta of 1.05. STAAR Surgical Company has a 1-year low of $14.69 and a 1-year high of $30.81.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.51). The firm had revenue of $57.80 million for the quarter, compared to analysts' expectations of $75.54 million. STAAR Surgical had a negative return on equity of 10.03% and a negative net margin of 33.60%.The company's revenue for the quarter was up 18.0% compared to the same quarter last year. On average, research analysts expect that STAAR Surgical Company will post -1.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

STAA has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on STAAR Surgical in a report on Friday, January 16th. They set an "underweight" rating and a $13.00 price objective on the stock. BTIG Research reissued a "neutral" rating on shares of STAAR Surgical in a report on Tuesday, January 6th. Weiss Ratings restated a "sell (d)" rating on shares of STAAR Surgical in a research report on Thursday, January 22nd. Jefferies Financial Group lowered their price target on shares of STAAR Surgical from $28.00 to $21.50 and set a "buy" rating on the stock in a research note on Wednesday, January 28th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of STAAR Surgical in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, STAAR Surgical currently has a consensus rating of "Reduce" and an average price target of $19.21.

Insider Activity at STAAR Surgical

In other STAAR Surgical news, Director Broadwood Partners, L.P. acquired 316,017 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $18.61 per share, for a total transaction of $5,881,076.37. Following the transaction, the director directly owned 16,123,842 shares of the company's stock, valued at approximately $300,064,699.62. This represents a 2.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have bought 1,104,351 shares of company stock valued at $21,690,426. 0.59% of the stock is owned by 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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