Erste Asset Management GmbH Takes Position in STAAR Surgical (NASDAQ:STAA)

Erste Asset Management GmbH acquired a new position in shares of STAAR Surgical (NASDAQ:STAA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,153 shares of the medical instruments supplier’s stock, valued at approximately $788,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI acquired a new position in shares of STAAR Surgical during the third quarter worth $37,000. Quest Partners LLC bought a new position in shares of STAAR Surgical during the third quarter worth about $128,000. Canada Pension Plan Investment Board bought a new stake in shares of STAAR Surgical in the 2nd quarter valued at $129,000. Van ECK Associates Corp boosted its position in STAAR Surgical by 12.7% during the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after acquiring an additional 393 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new stake in STAAR Surgical during the second quarter worth approximately $130,000. Institutional investors own 96.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on STAA. Canaccord Genuity Group cut their price target on STAAR Surgical from $41.00 to $31.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st. Finally, Stifel Nicolaus decreased their price target on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, STAAR Surgical has an average rating of “Hold” and a consensus price target of $43.33.

STAAR Surgical Price Performance

STAA opened at $26.49 on Wednesday. STAAR Surgical has a fifty-two week low of $25.82 and a fifty-two week high of $52.68. The company’s 50-day moving average is $30.53 and its 200 day moving average is $35.95. The firm has a market capitalization of $1.31 billion, a P/E ratio of 60.14 and a beta of 0.59.

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.