Quantinno Capital Management LP Takes $1.11 Million Position in STAAR Surgical Company $STAA

Key Points

• Quantinno Capital Management acquired 59,302 STAAR Surgical shares worth approximately $1.11 million, giving it a 0.12% stake. Institutional investors and hedge funds collectively own 96.70% of the company.
• STAAR Surgical’s latest-quarter revenue rose 111.1% year over year to $93.53 million, exceeding estimates, but earnings of $0.16 per share missed expectations of $0.22.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $27.80; shares recently traded at $26.18 after rising 3.4%.

Quantinno Capital Management LP acquired a new position in shares of STAAR Surgical Company (NASDAQ:STAA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 59,302 shares of the medical instruments supplier's stock, valued at approximately $1,109,000. Quantinno Capital Management LP owned 0.12% of STAAR Surgical as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its position in STAAR Surgical by 2,605.1% in 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 purchasing an additional 1,016 shares in the last quarter. Ascentis Independent Advisors acquired a new stake in STAAR Surgical during the first quarter valued at approximately $77,000. Tower Research Capital LLC TRC grew its stake in shares of 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 valued at $99,000 after purchasing an additional 4,673 shares during the period. Russell Investments Group Ltd. grew its stake 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 valued at $121,000 after purchasing an additional 4,468 shares during the period. Finally, Fifth Third Bancorp grew its stake 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 valued at $206,000 after purchasing an additional 10,637 shares during the period. 96.70% of the stock is currently owned by institutional investors and hedge funds.

STAAR Surgical Trading Up 3.4%

NASDAQ STAA opened at $26.18 on Friday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 374.05 and a beta of 1.26. The company has a 50 day moving average of $26.81 and a 200-day moving average of $24.14. STAAR Surgical Company has a 1-year low of $15.59 and a 1-year high of $35.87.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last announced its earnings results on Wednesday, August 12th. The medical instruments supplier reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06). The business had revenue of $93.53 million during the quarter, compared to analyst estimates of $90.60 million. STAAR Surgical had a return on equity of 9.05% and a net margin of 1.13%.The firm's revenue was up 111.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.34) earnings per share. On average, analysts forecast that STAAR Surgical Company will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on STAA. Stifel Nicolaus raised their target price on STAAR Surgical from $18.00 to $31.00 and gave the stock a "hold" rating in a research report on Thursday, May 14th. Mizuho upped their price target on STAAR Surgical from $22.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. UBS Group dropped their price objective on STAAR Surgical from $20.00 to $19.00 and set a "sell" rating for the company in a research note on Thursday. Wall Street Zen cut STAAR Surgical from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Wedbush reduced their target price on shares of STAAR Surgical from $40.00 to $37.00 and set an "outperform" rating on the stock in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, STAAR Surgical has an average rating of "Hold" and an average price target of $27.80.

STAAR Surgical 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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