STAAR Surgical (NASDAQ:STAA) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of STAAR Surgical (NASDAQ:STAA) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,778 shares of the medical instruments supplier’s stock after selling 1,561 shares during the quarter. Thrivent Financial for Lutherans’ holdings in STAAR Surgical were worth $1,941,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of STAAR Surgical by 313.9% during the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 992 shares during the period. Covestor Ltd increased its stake in shares of STAAR Surgical by 38.9% in the first quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock worth $103,000 after acquiring an additional 754 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of STAAR Surgical during the second quarter worth $129,000. Larson Financial Group LLC acquired a new position in STAAR Surgical during the second quarter valued at $130,000. Finally, Virtu Financial LLC purchased a new stake in STAAR Surgical in the first quarter valued at $289,000. Hedge funds and other institutional investors own 96.70% of the company’s stock.

Insider Buying and Selling

In other news, Director Arthur C. Butcher bought 1,315 shares of STAAR Surgical stock in a transaction on Monday, August 12th. The stock was acquired at an average price 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 of the company’s stock, valued at $159,861.92. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

STAAR Surgical Price Performance

Shares of NASDAQ:STAA opened at $35.68 on Thursday. The business’s 50 day moving average price is $34.79 and its 200-day moving average price is $40.26. STAAR Surgical has a 1 year low of $26.66 and a 1 year high of $52.68. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 115.10 and a beta of 0.59.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.09). The company had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $95.22 million. STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. On average, sell-side analysts expect that STAAR Surgical will post 0.17 earnings per share for the current 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.