Texas Permanent School Fund Corp Acquires 10,854 Shares of STAAR Surgical (NASDAQ:STAA)

Posted by Defense World Staff on Jul 28th, 2023

Texas Permanent School Fund Corp lifted its stake in STAAR Surgical (NASDAQ:STAA – Free Report) by 33.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,231 shares of the medical instruments supplier’s stock after purchasing an additional 10,854 shares during the period. Texas Permanent School Fund Corp owned 0.09% of STAAR Surgical worth $2,765,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of STAA. Metropolitan Life Insurance Co. NY raised its position in STAAR Surgical by 6.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,052 shares of the medical instruments supplier’s stock valued at $148,000 after purchasing an additional 184 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in STAAR Surgical by 6.4% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,052 shares of the medical instruments supplier’s stock valued at $148,000 after purchasing an additional 184 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of STAAR Surgical by 1.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,188 shares of the medical instruments supplier’s stock valued at $689,000 after buying an additional 191 shares in the last quarter. Assetmark Inc. raised its position in STAAR Surgical by 42.1% in the 4th quarter. Assetmark Inc. now owns 645 shares of the medical instruments supplier’s stock worth $31,000 after purchasing an additional 191 shares during the period. Finally, Sei Investments Co. increased its position in shares of STAAR Surgical by 0.6% during the second quarter. Sei Investments Co. now owns 34,969 shares of the medical instruments supplier’s stock valued at $2,484,000 after buying an additional 195 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Stock Performance

Shares of STAA opened at $54.81 on Friday. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 85.64 and a beta of 1.12. STAAR Surgical has a 52 week low of $46.35 and a 52 week high of $112.27. The stock has a fifty day moving average of $54.97 and a 200-day moving average of $62.24.

STAAR Surgical (NASDAQ:STAA – Get Free Report) last released its quarterly earnings results on Wednesday, May 3rd. The medical instruments supplier reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. STAAR Surgical had a return on equity of 9.85% and a net margin of 10.81%. The business had revenue of $73.53 million during the quarter, compared to the consensus estimate of $66.35 million. As a group, equities analysts forecast that STAAR Surgical will post 0.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of STAAR Surgical from $60.00 to $55.00 in a research note on Monday, June 12th. StockNews.com initiated coverage on shares of STAAR Surgical in a research report on Thursday, May 18th. They set a “hold” rating on the stock. William Blair downgraded shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 7th. Piper Sandler started coverage on shares of STAAR Surgical in a research note on Monday, April 17th. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, Needham & Company LLC upped their target price on shares of STAAR Surgical from $78.00 to $84.00 in a research report on Thursday, May 4th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.90.

STAAR Surgical Company Profile

(Free Report)

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 Visian implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.