Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Acquires 108,720 Shares of Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. acquired 108,720 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average price of $17.96 per share, with a total value of $1,952,611.20. Following the completion of the transaction, the insider now directly owns 12,182,995 shares in the company, valued at approximately $218,806,590.20. The trade was a 0.90 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

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

STAAR Surgical Stock Down 1.8 %

STAAR Surgical stock opened at $17.92 on Friday. STAAR Surgical has a 52-week low of $13.50 and a 52-week high of $52.68. The firm has a market capitalization of $883.90 million, a price-to-earnings ratio of -43.71 and a beta of 0.66. The firm has a 50-day moving average price of $19.97 and a two-hundred day moving average price of $25.81.

Analysts Set New Price Targets

A number of brokerages have recently commented on STAA. Canaccord Genuity Group lowered their price objective on STAAR Surgical from $28.00 to $17.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group cut STAAR Surgical from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. StockNews.com lowered shares of STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Thursday, February 27th. Finally, BTIG Research downgraded shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 12th. Two 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.29.

Hedge Funds Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the business. Resona Asset Management Co. Ltd. bought a new stake in STAAR Surgical during the 4th quarter valued at $36,411,000. Vanguard Group Inc. raised its stake in shares of STAAR Surgical by 5.8% during 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 purchasing an additional 319,441 shares in the last quarter. Yunqi Capital Ltd raised its stake in shares of STAAR Surgical by 48.9% during the fourth quarter. Yunqi Capital Ltd now owns 767,413 shares of the medical instruments supplier’s stock valued at $18,640,000 after purchasing an additional 252,113 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in STAAR Surgical by 411.7% in the third quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock worth $7,978,000 after purchasing an additional 172,779 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in STAAR Surgical by 25.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 853,370 shares of the medical instruments supplier’s stock valued at $20,728,000 after buying an additional 171,046 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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.