STAAR Surgical (NASDAQ:STAA) Stake Raised by Broadwood Capital Inc.

Broadwood Capital Inc. increased its holdings in STAAR Surgical (NASDAQ:STAA) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,848,631 shares of the medical instruments supplier’s stock after buying an additional 80,200 shares during the quarter. STAAR Surgical comprises approximately 20.6% of Broadwood Capital Inc.’s investment portfolio, making the stock its 3rd largest holding. Broadwood Capital Inc. owned 22.01% of STAAR Surgical worth $263,513,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in STAAR Surgical during the fourth quarter worth $180,000. Bridgefront Capital LLC raised its stake in shares of STAAR Surgical by 27.2% during the 4th quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier’s stock worth $262,000 after buying an additional 2,306 shares during the period. Quantbot Technologies LP purchased a new position in shares of STAAR Surgical during the 4th quarter valued at approximately $278,000. Y Intercept Hong Kong Ltd acquired a new stake in STAAR Surgical in the 4th quarter valued at $292,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in STAAR Surgical in the 4th quarter worth $298,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

STAAR Surgical Stock Performance

STAA stock opened at $18.98 on Tuesday. STAAR Surgical has a fifty-two week low of $13.50 and a fifty-two week high of $49.86. The company’s 50 day moving average price is $17.42 and its 200 day moving average price is $22.17. The firm has a market capitalization of $940.00 million, a price-to-earnings ratio of -46.29 and a beta of 0.65.

Insider Buying and Selling

In related news, major shareholder Broadwood Partners, L.P. acquired 8,200 shares of the firm’s stock in a transaction on Wednesday, April 9th. The stock was bought at an average price of $15.08 per share, for a total transaction of $123,656.00. Following the completion of the purchase, the insider now directly owns 13,518,591 shares of the company’s stock, valued at approximately $203,860,352.28. The trade was a 0.06 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 1,742,581 shares of company stock worth $28,407,543 over the last 90 days. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on STAA shares. Stephens restated an “equal weight” rating and set a $17.00 price target on shares of STAAR Surgical in a research report on Tuesday, March 18th. Wells Fargo & Company started coverage on STAAR Surgical in a research report on Monday, April 21st. They set an “equal weight” rating and a $17.00 price target for the company. StockNews.com lowered STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Piper Sandler dropped their target price on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, STAAR Surgical currently has a consensus rating of “Hold” and a consensus price target of $24.25.

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.