Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Purchases $4,421,337.80 in Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. acquired 259,316 shares of STAAR Surgical stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $17.05 per share, with a total value of $4,421,337.80. Following the transaction, the insider now directly owns 11,548,753 shares in the company, valued at approximately $196,906,238.65. This trade represents a 2.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 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 Monday, March 3rd, Broadwood Partners, L.P. bought 249,503 shares of STAAR Surgical stock. The stock was purchased at an average cost of $16.64 per share, with a total value of $4,151,729.92.
• On Friday, February 14th, Broadwood Partners, L.P. acquired 36,532 shares of STAAR Surgical stock. The shares were acquired at an average cost of $15.49 per share, with a total value of $565,880.68.
• On Wednesday, February 12th, Broadwood Partners, L.P. purchased 259,616 shares of STAAR Surgical stock. The stock was acquired at an average cost of $14.96 per share, with a total value of $3,883,855.36.
• On Thursday, January 16th, Broadwood Partners, L.P. bought 8,221 shares of STAAR Surgical stock. The stock was purchased at an average cost of $21.50 per share, for a total transaction of $176,751.50.
• On Tuesday, January 14th, Broadwood Partners, L.P. acquired 21,155 shares of STAAR Surgical stock. The shares were purchased at an average cost of $21.46 per share, with a total value of $453,986.30.
• On Wednesday, December 18th, Broadwood Partners, L.P. bought 23,000 shares of STAAR Surgical stock. The stock was acquired at an average cost of $24.33 per share, for a total transaction of $559,590.00.
• On Monday, December 16th, Broadwood Partners, L.P. acquired 53,500 shares of STAAR Surgical stock. The shares were bought at an average cost of $24.24 per share, for a total transaction of $1,296,840.00.

STAAR Surgical Price Performance

STAA traded down $1.03 during trading on Monday, reaching $16.47. The company had a trading volume of 1,350,529 shares, compared to its average volume of 1,112,576. The business’s fifty day moving average price is $21.55 and its 200 day moving average price is $27.18. STAAR Surgical has a 12 month low of $13.50 and a 12 month high of $52.68. The company has a market cap of $812.38 million, a P/E ratio of -40.17 and a beta of 0.62.

Institutional Investors Weigh In On STAAR Surgical

Several institutional investors have recently added to or reduced their stakes in STAA. Arcadia Investment Management Corp MI acquired a new stake in shares of STAAR Surgical in the 3rd quarter valued at about $37,000. Quarry LP acquired a new position in shares of STAAR Surgical during the third quarter worth about $50,000. Quest Partners LLC bought a new position in shares of STAAR Surgical during the third quarter worth about $128,000. Van ECK Associates Corp raised its position in STAAR Surgical by 12.7% in the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after buying an additional 393 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in STAAR Surgical by 78.3% in the 3rd quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier’s stock valued at $181,000 after acquiring an additional 2,135 shares in the last quarter. 96.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler decreased their price target on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Thursday. StockNews.com cut STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Stephens restated an “equal weight” rating and issued a $28.00 price objective on shares of STAAR Surgical in a report on Wednesday, February 12th. Finally, Mizuho lowered shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $45.00 to $17.00 in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.86.

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.