Roubaix Capital LLC Buys Shares of 90,172 STAAR Surgical (NASDAQ:STAA)

Roubaix Capital LLC bought a new position in STAAR Surgical (NASDAQ:STAA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 90,172 shares of the medical instruments supplier’s stock, valued at approximately $4,293,000. STAAR Surgical comprises 2.7% of Roubaix Capital LLC’s portfolio, making the stock its 11th biggest holding. Roubaix Capital LLC owned approximately 0.18% of STAAR Surgical as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new position in STAAR Surgical in the 1st quarter valued at approximately $2,731,000. Broadwood Capital Inc. boosted its holdings in shares of STAAR Surgical by 13.7% during the 4th quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock valued at $328,886,000 after acquiring an additional 1,273,408 shares in the last quarter. Seven Eight Capital LP boosted its holdings in shares of STAAR Surgical by 47.0% during the 4th quarter. Seven Eight Capital LP now owns 67,885 shares of the medical instruments supplier’s stock valued at $2,119,000 after acquiring an additional 21,718 shares in the last quarter. Russell Investments Group Ltd. grew its position in STAAR Surgical by 1.5% during the 1st quarter. Russell Investments Group Ltd. now owns 36,931 shares of the medical instruments supplier’s stock worth $1,406,000 after acquiring an additional 555 shares during the last quarter. Finally, Caxton Associates LP acquired a new position in STAAR Surgical in the 4th quarter worth about $1,948,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Arthur C. Butcher acquired 1,315 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $37.99 per share, for a total transaction of $49,956.85. Following the purchase, the director now directly owns 4,208 shares of the company’s stock, valued at approximately $159,861.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.00% of the company’s stock.

STAAR Surgical Stock Down 2.6 %

STAA stock opened at $31.49 on Thursday. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 101.58 and a beta of 0.58. The company’s fifty day simple moving average is $39.67 and its 200 day simple moving average is $40.49. STAAR Surgical has a 12-month low of $26.66 and a 12-month high of $52.68.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share (EPS) 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 business had revenue of $99.01 million during the quarter, compared to analyst estimates of $95.22 million. During the same period in the prior year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts expect that STAAR Surgical will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

STAA has been the topic of several research reports. Mizuho boosted their price target on STAAR Surgical from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Thursday, August 8th. Morgan Stanley downgraded shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $50.00 to $37.00 in a research note on Monday, July 15th. Piper Sandler boosted their price objective on shares of STAAR Surgical from $33.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Finally, BTIG Research raised their target price on STAAR Surgical from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.57.

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.