STAAR Surgical (NASDAQ:STAA) Major Shareholder Buys $606,044.25 in Stock

STAAR Surgical Company (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. purchased 27,485 shares of STAAR Surgical stock in a transaction on Friday, January 9th. The stock was bought at an average cost of $22.05 per share, with a total value of $606,044.25. Following the completion of the acquisition, the insider owned 15,453,629 shares in the company, valued at approximately $340,752,519.45. This trade represents a 0.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Broadwood Partners, L.P. also recently made the following trade(s):

• On Thursday, January 8th, Broadwood Partners, L.P. acquired 3,240 shares of STAAR Surgical stock. The shares were bought at an average price of $21.94 per share, for a total transaction of $71,085.60.
• On Wednesday, January 7th, Broadwood Partners, L.P. bought 66,467 shares of STAAR Surgical stock. The shares were purchased at an average cost of $22.00 per share, for a total transaction of $1,462,274.00.
• On Tuesday, January 6th, Broadwood Partners, L.P. purchased 336,946 shares of STAAR Surgical stock. The shares were purchased at an average price of $21.62 per share, for a total transaction of $7,284,772.52.
• On Wednesday, November 19th, Broadwood Partners, L.P. acquired 309,132 shares of STAAR Surgical stock. The stock was purchased at an average price of $26.42 per share, with a total value of $8,167,267.44.
• On Friday, November 21st, Broadwood Partners, L.P. acquired 797,486 shares of STAAR Surgical stock. The shares were purchased at an average price of $27.86 per share, for a total transaction of $22,217,959.96.
• On Thursday, November 20th, Broadwood Partners, L.P. bought 393,382 shares of STAAR Surgical stock. The stock was purchased at an average price of $27.14 per share, with a total value of $10,676,387.48.

STAAR Surgical Trading Down 4.0%

STAA stock traded down $0.88 during midday trading on Tuesday, hitting $21.13. The stock had a trading volume of 1,935,622 shares, compared to its average volume of 1,549,608. STAAR Surgical Company has a 52 week low of $13.50 and a 52 week high of $30.81. The stock has a 50-day simple moving average of $24.87 and a 200 day simple moving average of $24.58. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -10.84 and a beta of 1.00.

Institutional Investors Weigh In On STAAR Surgical

A number of institutional investors and hedge funds have recently made changes to their positions in STAA. Broadwood Capital Inc. boosted its holdings in STAAR Surgical by 8.5% in the second quarter. Broadwood Capital Inc. now owns 13,519,491 shares of the medical instruments supplier’s stock valued at $226,857,000 after acquiring an additional 1,064,227 shares during the last quarter. Soleus Capital Management L.P. lifted its position in STAAR Surgical by 16.5% during the 2nd quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock valued at $50,084,000 after purchasing an additional 421,840 shares during the period. Yunqi Capital Ltd boosted its stake in shares of STAAR Surgical by 3.7% in the 3rd quarter. Yunqi Capital Ltd now owns 2,500,061 shares of the medical instruments supplier’s stock valued at $67,177,000 after purchasing an additional 88,773 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in shares of STAAR Surgical by 11.6% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 2,421,836 shares of the medical instruments supplier’s stock worth $40,746,000 after buying an additional 252,218 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of STAAR Surgical during the 3rd quarter worth approximately $48,729,000. Institutional investors own 96.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a report on Tuesday, January 6th. Weiss Ratings reissued a “sell (d)” rating on shares of STAAR Surgical in a report on Wednesday, October 8th. Piper Sandler reaffirmed a “neutral” rating on shares of STAAR Surgical in a report on Monday, October 27th. Finally, Canaccord Genuity Group lifted their price objective on STAAR Surgical from $28.00 to $30.75 and gave the company a “hold” rating in a research report on Tuesday, December 9th. Ten equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $23.42.

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.