Roubaix Capital LLC Decreases Position in STAAR Surgical (NASDAQ:STAA)

Roubaix Capital LLC decreased its stake in STAAR Surgical (NASDAQ:STAA) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,114 shares of the medical instruments supplier’s stock after selling 9,058 shares during the period. Roubaix Capital LLC owned approximately 0.17% of STAAR Surgical worth $3,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Covestor Ltd boosted its holdings in STAAR Surgical by 38.9% in the first quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock valued at $103,000 after purchasing an additional 754 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in STAAR Surgical in the second quarter valued at about $129,000. Larson Financial Group LLC purchased a new position in STAAR Surgical in the second quarter valued at about $130,000. nVerses Capital LLC boosted its holdings in STAAR Surgical by 78.3% in the third quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock valued at $152,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Creative Planning boosted its holdings in STAAR Surgical by 8.0% in the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock valued at $205,000 after purchasing an additional 408 shares during the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on STAA. Morgan Stanley downgraded STAAR Surgical from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $50.00 to $37.00 in a report on Monday, July 15th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research note on Thursday, September 19th. Canaccord Genuity Group cut their price objective on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. BTIG Research increased their price target on STAAR Surgical from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Stifel Nicolaus dropped their price target on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $45.57.

Insider Buying and Selling

In other news, Director Arthur C. Butcher bought 1,315 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $37.99 per share, with a total value of $49,956.85. Following the completion of the acquisition, the director now directly owns 4,208 shares in the company, valued at approximately $159,861.92. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

STAAR Surgical Stock Down 2.6 %

Shares of NASDAQ STAA opened at $29.49 on Thursday. STAAR Surgical has a fifty-two week low of $26.66 and a fifty-two week high of $52.68. The firm’s 50-day simple moving average is $32.06 and its 200 day simple moving average is $38.76. The stock has a market cap of $1.45 billion, a P/E ratio of 86.74 and a beta of 0.59.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. The company had revenue of $99.01 million for the quarter, compared to the consensus estimate of $95.22 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. STAAR Surgical’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that STAAR Surgical will post 0.16 earnings per share for the current fiscal year.

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.