STAAR Surgical Company $STAA Holdings Raised by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its STAAR Surgical stake by 39.1% in the first quarter, adding 230,582 shares to hold 820,782 shares worth approximately $15.35 million. Institutional investors collectively own 96.7% of the company.
• Analyst sentiment remains mixed, with ratings ranging from strong buy to sell. The consensus rating is “Hold”, with an average price target of $26.94.
• STAAR Surgical reported quarterly earnings of $0.10 per share, beating estimates of $0.05, while revenue reached $93.52 million—up 119.6% year over year and above expectations of $78.72 million.

Dimensional Fund Advisors LP increased its stake in STAAR Surgical Company (NASDAQ:STAA - Free Report) by 39.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 820,782 shares of the medical instruments supplier's stock after purchasing an additional 230,582 shares during the quarter. Dimensional Fund Advisors LP owned about 1.65% of STAAR Surgical worth $15,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its position in shares of 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 worth $28,000 after buying an additional 1,016 shares in the last quarter. Ascentis Independent Advisors bought a new position in shares of STAAR Surgical in the first quarter valued at approximately $77,000. Tower Research Capital LLC TRC boosted its holdings in shares of STAAR Surgical by 375.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier's stock valued at $99,000 after acquiring an additional 4,673 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of STAAR Surgical by 9,928.9% in the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier's stock valued at $121,000 after acquiring an additional 4,468 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of STAAR Surgical by 2,867.1% during the first quarter. Fifth Third Bancorp now owns 11,008 shares of the medical instruments supplier's stock valued at $206,000 after acquiring an additional 10,637 shares during the period. Institutional investors own 96.70% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on STAA. Weiss Ratings raised STAAR Surgical from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, June 25th. UBS Group assumed coverage on STAAR Surgical in a research note on Tuesday, July 28th. They set a "sell" rating and a $20.00 price target for the company. Wedbush reiterated an "outperform" rating and set a $40.00 price target on shares of STAAR Surgical in a research report on Tuesday, August 4th. Piper Sandler boosted their price objective on STAAR Surgical from $16.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Finally, Zacks Research upgraded STAAR Surgical from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $26.94.

STAAR Surgical Stock Up 4.7%

NASDAQ STAA opened at $24.21 on Friday. 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 company's 50 day simple moving average is $27.19 and its 200 day simple moving average is $23.96. STAAR Surgical Company has a 12 month low of $15.59 and a 12 month high of $35.87. The company has a market capitalization of $1.21 billion, a P/E ratio of -56.30 and a beta of 1.26.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last issued its earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share for the quarter, topping 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%. The firm's revenue for the quarter was up 119.6% compared to the same quarter last year. During the same period last year, the firm posted ($1.10) earnings per share. Equities research analysts expect that STAAR Surgical Company will post 0.13 earnings per share for the current fiscal year.

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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