Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Buys 34,296 Shares of Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. acquired 34,296 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was acquired at an average cost of $17.44 per share, for a total transaction of $598,122.24. Following the transaction, the insider now owns 12,319,691 shares of the company’s stock, valued at $214,855,411.04. This represents a 0.28 % increase in their ownership of the stock. 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 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, March 20th, Broadwood Partners, L.P. acquired 108,720 shares of STAAR Surgical stock. The stock was purchased at an average cost of $17.96 per share, with a total value of $1,952,611.20.
• On Tuesday, March 18th, Broadwood Partners, L.P. acquired 93,124 shares of STAAR Surgical stock. The shares were bought at an average cost of $17.54 per share, with a total value of $1,633,394.96.
• On Monday, March 3rd, Broadwood Partners, L.P. bought 249,503 shares of STAAR Surgical stock. The stock was acquired at an average cost of $16.64 per share, with a total value of $4,151,729.92.
• On Thursday, February 27th, Broadwood Partners, L.P. acquired 259,316 shares of STAAR Surgical stock. The shares were purchased at an average price of $17.05 per share, for a total transaction of $4,421,337.80.
• On Friday, February 14th, Broadwood Partners, L.P. purchased 36,532 shares of STAAR Surgical stock. The shares were purchased at an average cost of $15.49 per share, for a total transaction of $565,880.68.
• On Wednesday, February 12th, Broadwood Partners, L.P. acquired 259,616 shares of STAAR Surgical stock. The stock was bought at an average cost of $14.96 per share, for a total transaction of $3,883,855.36.
• On Thursday, January 16th, Broadwood Partners, L.P. acquired 8,221 shares of STAAR Surgical stock. The stock was bought at an average price of $21.50 per share, with a total value of $176,751.50.
• On Tuesday, January 14th, Broadwood Partners, L.P. bought 21,155 shares of STAAR Surgical stock. The shares were acquired at an average cost of $21.46 per share, with a total value of $453,986.30.

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA traded down $0.31 during midday trading on Tuesday, reaching $17.46. 621,690 shares of the company’s stock traded hands, compared to its average volume of 765,949. STAAR Surgical has a one year low of $13.50 and a one year high of $52.68. The stock has a 50 day moving average of $19.77 and a 200 day moving average of $25.52. The company has a market cap of $861.21 million, a price-to-earnings ratio of -42.59 and a beta of 0.66.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on STAA shares. BTIG Research lowered STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 12th. Mizuho lowered shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $45.00 to $17.00 in a research report on Wednesday, February 12th. StockNews.com cut shares of STAAR Surgical from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Piper Sandler lowered their price target on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, STAAR Surgical has a consensus rating of “Hold” and a consensus target price of $25.29.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in STAAR Surgical during the third quarter valued at approximately $50,000. Quest Partners LLC purchased a new stake in shares of STAAR Surgical in the 3rd quarter worth $128,000. KLP Kapitalforvaltning AS bought a new position in STAAR Surgical in the 4th quarter worth $180,000. Larson Financial Group LLC lifted its position in STAAR Surgical by 78.3% during the third quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier’s stock valued at $181,000 after purchasing an additional 2,135 shares in the last quarter. Finally, Bridgefront Capital LLC grew its holdings in STAAR Surgical by 27.2% during the fourth quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier’s stock valued at $262,000 after purchasing an additional 2,306 shares during the period. Institutional investors own 96.70% of the company’s stock.

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.