Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Acquires 8,221 Shares of Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. acquired 8,221 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were bought at an average price of $21.50 per share, for a total transaction of $176,751.50. Following the transaction, the insider now owns 10,878,007 shares of the company’s stock, valued at $233,877,150.50. This trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% 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 Tuesday, January 14th, Broadwood Partners, L.P. bought 21,155 shares of STAAR Surgical stock. The shares were bought at an average price of $21.46 per share, with a total value of $453,986.30.
• On Wednesday, December 18th, Broadwood Partners, L.P. purchased 23,000 shares of STAAR Surgical stock. The stock was purchased at an average price 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 purchased at an average price of $24.24 per share, with a total value of $1,296,840.00.

STAAR Surgical Trading Up 0.6 %

Shares of STAA traded up $0.14 during trading hours on Thursday, reaching $21.85. 531,485 shares of the stock traded hands, compared to its average volume of 732,698. The company has a market cap of $1.08 billion, a P/E ratio of 49.66 and a beta of 0.63. The company’s 50-day moving average price is $25.72 and its two-hundred day moving average price is $32.16. STAAR Surgical has a 52-week low of $21.13 and a 52-week high of $52.68.

Hedge Funds Weigh In On STAAR Surgical

Large investors have recently made changes to their positions in the business. Arcadia Investment Management Corp MI purchased a new stake in shares of STAAR Surgical during the third quarter worth about $37,000. Quarry LP bought a new position in STAAR Surgical in the 3rd quarter worth approximately $50,000. Quest Partners LLC purchased a new stake in STAAR Surgical during the 3rd quarter valued at approximately $128,000. Canada Pension Plan Investment Board bought a new position in shares of STAAR Surgical during the 2nd quarter valued at about $129,000. Finally, Van ECK Associates Corp increased its stake 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 worth $129,000 after acquiring an additional 393 shares during the last quarter. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group reduced their price target on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, December 9th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Tuesday, January 7th. Finally, Stephens upgraded shares of STAAR Surgical to a “hold” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.