Squarepoint Ops LLC Reduces Position in STAAR Surgical Company $STAA

Key Points

• Squarepoint Ops LLC cut its STAAR Surgical position by 45.7% in the second quarter, selling 158,429 shares and retaining 188,292 shares valued at approximately $5.4 million.
• Other institutional investors increased their holdings, and hedge funds and institutional investors collectively own 96.7% of STAAR Surgical’s stock.
• STAAR Surgical exceeded quarterly earnings and revenue expectations, with revenue rising 111.1% year over year. However, analysts maintain a consensus “Reduce” rating, with an average price target of $28.40 versus the stock’s reported $22.66 price.

Squarepoint Ops LLC lessened its holdings in shares of STAAR Surgical Company (NASDAQ:STAA - Free Report) by 45.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,292 shares of the medical instruments supplier's stock after selling 158,429 shares during the quarter. Squarepoint Ops LLC owned about 0.38% of STAAR Surgical worth $5,402,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of STAA. American Capital Management Inc. raised its holdings in STAAR Surgical by 18.7% during the 1st quarter. American Capital Management Inc. now owns 878,035 shares of the medical instruments supplier's stock valued at $16,419,000 after acquiring an additional 138,499 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of STAAR Surgical by 257.7% in the first quarter. Renaissance Technologies LLC now owns 135,200 shares of the medical instruments supplier's stock worth $2,528,000 after acquiring an additional 97,400 shares during the period. Quantinno Capital Management LP bought a new position in shares of STAAR Surgical in the first quarter worth $1,109,000. Crcm LP purchased a new position in shares of STAAR Surgical in the first quarter valued at $1,870,000. Finally, UBS Group AG grew its position in shares of STAAR Surgical by 39.2% in the fourth quarter. UBS Group AG now owns 327,852 shares of the medical instruments supplier's stock valued at $7,570,000 after purchasing an additional 92,321 shares in the last quarter. Hedge funds and other institutional investors own 96.70% of the company's stock.

STAAR Surgical Price Performance

STAA stock opened at $22.66 on Friday. The firm has a 50 day simple moving average of $24.56 and a two-hundred day simple moving average of $24.93. The stock has a market cap of $1.14 billion, a PE ratio of 323.76 and a beta of 1.21. STAAR Surgical Company has a one year low of $15.59 and a one year high of $35.87.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The medical instruments supplier reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.17. The firm had revenue of $93.53 million for the quarter, compared to analysts' expectations of $90.60 million. STAAR Surgical had a net margin of 1.13% and a return on equity of 9.05%. The business's quarterly revenue was up 111.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.34) EPS. On average, research analysts expect that STAAR Surgical Company will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on STAA. Wall Street Zen cut STAAR Surgical from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Jefferies Financial Group reiterated a "hold" rating and set a $28.00 price target on shares of STAAR Surgical in a research report on Thursday, August 13th. Stifel Nicolaus lowered their price target on shares of STAAR Surgical from $31.00 to $28.00 and set a "hold" rating on the stock in a report on Monday, August 17th. UBS Group set a $28.00 price objective on shares of STAAR Surgical in a research report on Monday, August 17th. Finally, Wedbush reduced their price objective on shares of STAAR Surgical from $40.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday, August 13th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $28.40.

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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