Magnetar Financial LLC Buys 1,268,019 Shares of STAAR Surgical Company $STAA

Magnetar Financial LLC boosted its stake in STAAR Surgical Company (NASDAQ:STAA) by 105.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,472,390 shares of the medical instruments supplier’s stock after buying an additional 1,268,019 shares during the quarter. STAAR Surgical makes up 0.6% of Magnetar Financial LLC’s investment portfolio, making the stock its 22nd largest holding. Magnetar Financial LLC owned 4.97% of STAAR Surgical worth $57,087,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of STAAR Surgical by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock worth $518,000 after acquiring an additional 1,267 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of STAAR Surgical by 33.4% during the first quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier’s stock valued at $9,606,000 after purchasing an additional 136,390 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of STAAR Surgical by 11.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,347 shares of the medical instruments supplier’s stock valued at $2,175,000 after purchasing an additional 12,841 shares in the last quarter. Creative Planning boosted its holdings in STAAR Surgical by 19.9% during the second quarter. Creative Planning now owns 15,695 shares of the medical instruments supplier’s stock worth $263,000 after purchasing an additional 2,606 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in STAAR Surgical by 183.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 153,371 shares of the medical instruments supplier’s stock worth $2,574,000 after purchasing an additional 99,218 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STAA has been the subject of several analyst reports. Canaccord Genuity Group increased their price objective on shares of STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Weiss Ratings downgraded STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Stifel Nicolaus increased their price target on STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. Wedbush reiterated an “outperform” rating and set a $40.00 price target on shares of STAAR Surgical in a report on Friday, May 29th. Finally, Wall Street Zen raised STAAR Surgical from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, STAAR Surgical has an average rating of “Hold” and a consensus target price of $27.81.

STAAR Surgical Stock Up 1.9%

STAA opened at $28.92 on Wednesday. STAAR Surgical Company has a twelve month low of $15.59 and a twelve month high of $35.87. The company’s 50-day moving average price is $27.98 and its two-hundred day moving average price is $23.24. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -67.25 and a beta of 1.23. The company has a quick ratio of 4.31, a current ratio of 5.12 and a debt-to-equity ratio of 0.09.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05. The company had revenue of $93.52 million during the quarter, compared to analyst estimates of $78.72 million. STAAR Surgical had a negative net margin of 7.24% and a positive return on equity of 3.31%. STAAR Surgical’s quarterly revenue 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, equities analysts expect that STAAR Surgical Company will post 0.13 earnings per share for the current year.

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.