STAAR Surgical (NASDAQ:STAA) Major Shareholder Buys $3,883,855.36 in Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 259,616 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were acquired at an average price of $14.96 per share, with a total value of $3,883,855.36. Following the purchase, the insider now directly owns 11,137,623 shares of the company’s stock, valued at approximately $166,618,840.08. This trade represents a 2.39 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% 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 Friday, February 14th, Broadwood Partners, L.P. acquired 36,532 shares of STAAR Surgical stock. The shares were bought at an average cost of $15.49 per share, with a total value of $565,880.68.
• On Thursday, January 16th, Broadwood Partners, L.P. bought 8,221 shares of STAAR Surgical stock. The stock was bought at an average price 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 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. acquired 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 Stock Down 3.8 %

STAAR Surgical stock opened at $15.35 on Monday. The firm’s 50-day simple moving average is $23.37 and its 200 day simple moving average is $28.80. 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 $756.39 million, a PE ratio of 34.89 and a beta of 0.62.

Analysts Set New Price Targets

STAA has been the subject of several analyst reports. BTIG Research cut shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Wednesday, February 12th. StockNews.com downgraded STAAR Surgical from a “hold” rating to a “sell” rating in a research note on Thursday. Canaccord Genuity Group cut 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. Finally, 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 research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.86.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of STAA. Arcadia Investment Management Corp MI purchased a new stake in STAAR Surgical in the 3rd quarter valued at approximately $37,000. Quarry LP purchased a new stake in shares of STAAR Surgical in the third quarter valued at $50,000. Quest Partners LLC acquired a new stake in shares of STAAR Surgical during the third quarter valued at $128,000. Van ECK Associates Corp increased its position in STAAR Surgical by 12.7% during the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after purchasing an additional 393 shares in the last quarter. Finally, nVerses Capital LLC raised its stake in STAAR Surgical by 78.3% in the 3rd quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock valued at $152,000 after purchasing an additional 1,800 shares during the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

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.