Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Acquires 23,000 Shares of Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 23,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was bought at an average price of $24.33 per share, for a total transaction of $559,590.00. Following the purchase, the insider now owns 10,848,631 shares in the company, valued at approximately $263,947,192.23. This represents a 0.21 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, December 16th, Broadwood Partners, L.P. acquired 53,500 shares of STAAR Surgical stock. The shares were purchased at an average price of $24.24 per share, for a total transaction of $1,296,840.00.

STAAR Surgical Stock Performance

STAAR Surgical stock opened at $24.98 on Friday. STAAR Surgical has a one year low of $23.72 and a one year high of $52.68. The company has a 50-day simple moving average of $28.31 and a 200-day simple moving average of $34.56. The firm has a market capitalization of $1.23 billion, a P/E ratio of 56.77 and a beta of 0.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Granite Investment Partners LLC acquired a new stake in shares of STAAR Surgical in the second quarter valued at approximately $17,237,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in STAAR Surgical by 50.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 592,621 shares of the medical instruments supplier’s stock worth $28,215,000 after buying an additional 197,717 shares in the last quarter. American Capital Management Inc. increased its position in STAAR Surgical by 42.9% in the 3rd quarter. American Capital Management Inc. now owns 512,813 shares of the medical instruments supplier’s stock valued at $19,051,000 after acquiring an additional 154,037 shares during the period. Dimensional Fund Advisors LP raised its stake in STAAR Surgical by 25.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 459,655 shares of the medical instruments supplier’s stock valued at $21,884,000 after acquiring an additional 94,422 shares in the last quarter. Finally, Roubaix Capital LLC acquired a new position in STAAR Surgical during the 2nd quarter worth $4,293,000. 96.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on STAA shares. Stephens upgraded STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Canaccord Genuity Group decreased their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, December 9th. Needham & Company LLC restated 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 report on Monday, August 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.83.

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.