Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Purchases 138,054 Shares of Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. acquired 138,054 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average price of $15.61 per share, with a total value of $2,155,022.94. Following the acquisition, the insider now owns 13,332,264 shares in the company, valued at $208,116,641.04. This trade represents a 1.05 % increase in their ownership of the stock. The transaction was disclosed in a legal filing 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 sales and purchases with the SEC.

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

• On Friday, April 4th, Broadwood Partners, L.P. acquired 497,631 shares of STAAR Surgical stock. The shares were acquired at an average cost of $15.91 per share, for a total transaction of $7,917,309.21.
• On Wednesday, April 2nd, Broadwood Partners, L.P. acquired 31,780 shares of STAAR Surgical stock. The shares were acquired at an average price of $17.43 per share, with a total value of $553,925.40.
• On Monday, March 31st, Broadwood Partners, L.P. bought 22,189 shares of STAAR Surgical stock. The shares were acquired at an average price of $17.46 per share, for a total transaction of $387,419.94.
• On Thursday, March 27th, Broadwood Partners, L.P. purchased 3,620 shares of STAAR Surgical stock. The stock was acquired at an average price of $17.48 per share, with a total value of $63,277.60.
• On Tuesday, March 25th, Broadwood Partners, L.P. purchased 34,296 shares of STAAR Surgical stock. The shares were acquired at an average price of $17.44 per share, for a total transaction of $598,122.24.
• On Thursday, March 20th, Broadwood Partners, L.P. acquired 108,720 shares of STAAR Surgical stock. The stock was bought 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. bought 93,124 shares of STAAR Surgical stock. The shares were bought at an average cost of $17.54 per share, for a total transaction of $1,633,394.96.
• On Monday, March 3rd, Broadwood Partners, L.P. purchased 249,503 shares of STAAR Surgical stock. The stock was bought 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. bought 259,316 shares of STAAR Surgical stock. The stock was purchased at an average cost 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, with a total value of $565,880.68.

STAAR Surgical Stock Performance

Shares of NASDAQ STAA opened at $15.87 on Thursday. The company has a market capitalization of $782.79 million, a PE ratio of -38.71 and a beta of 0.75. The company’s fifty day moving average price is $17.94 and its 200 day moving average price is $24.22. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $51.81.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds have recently modified their holdings of the company. Broadwood Capital Inc. increased its stake in shares of STAAR Surgical by 0.7% in the 4th quarter. Broadwood Capital Inc. now owns 10,848,631 shares of the medical instruments supplier’s stock valued at $263,513,000 after purchasing an additional 80,200 shares in the last quarter. Vanguard Group Inc. increased its position in shares of STAAR Surgical by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier’s stock valued at $142,232,000 after buying an additional 319,441 shares in the last quarter. State Street Corp increased its position in shares of STAAR Surgical by 0.5% in the third quarter. State Street Corp now owns 1,940,567 shares of the medical instruments supplier’s stock valued at $72,092,000 after buying an additional 10,430 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of STAAR Surgical during the 4th quarter worth approximately $36,411,000. Finally, Geode Capital Management LLC lifted its position in shares of STAAR Surgical by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock valued at $43,641,000 after buying an additional 31,212 shares in the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on STAA. StockNews.com cut STAAR Surgical from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Mizuho cut shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $17.00 in a research note on Wednesday, February 12th. Piper Sandler dropped their price objective 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. Stephens reissued an “equal weight” rating and set a $17.00 target price on shares of STAAR Surgical in a report on Tuesday, March 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.29.

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.