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

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. purchased 108,720 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were purchased at an average cost of $17.96 per share, for a total transaction of $1,952,611.20. Following 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 purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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, for a total transaction of $1,633,394.96.
• On Monday, March 3rd, Broadwood Partners, L.P. acquired 249,503 shares of STAAR Surgical stock. The shares were bought at an average cost 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 cost of $17.05 per share, for a total transaction of $4,421,337.80.
• On Friday, February 14th, Broadwood Partners, L.P. bought 36,532 shares of STAAR Surgical stock. The stock was acquired 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. bought 259,616 shares of STAAR Surgical stock. The stock was acquired at an average price of $14.96 per share, for a total transaction of $3,883,855.36.
• On Thursday, January 16th, Broadwood Partners, L.P. bought 8,221 shares of STAAR Surgical stock. The stock was acquired 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. acquired 21,155 shares of STAAR Surgical stock. The shares were purchased at an average price of $21.46 per share, for a total transaction of $453,986.30.

STAAR Surgical Trading Down 1.8 %

NASDAQ STAA traded down $0.33 on Thursday, hitting $17.92. The company’s stock had a trading volume of 1,073,972 shares, compared to its average volume of 760,650. STAAR Surgical has a 52-week low of $13.50 and a 52-week high of $52.68. The company’s 50-day simple moving average is $19.97 and its 200 day simple moving average is $25.81. The firm has a market cap of $883.90 million, a P/E ratio of -43.71 and a beta of 0.66.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STAA. Stifel Nicolaus reduced their price objective on STAAR Surgical from $38.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. BTIG Research lowered STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, February 27th. Piper Sandler reduced their price target on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group reduced their price target on STAAR Surgical from $28.00 to $17.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.29.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in STAA. Resona Asset Management Co. Ltd. purchased a new position in shares of STAAR Surgical in the 4th quarter valued at approximately $36,411,000. Vanguard Group Inc. increased its position in STAAR Surgical by 5.8% during the 4th 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. Yunqi Capital Ltd increased its holdings in shares of STAAR Surgical by 48.9% in the 4th quarter. Yunqi Capital Ltd now owns 767,413 shares of the medical instruments supplier’s stock worth $18,640,000 after purchasing an additional 252,113 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of STAAR Surgical by 411.7% in the 3rd 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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 worth $20,728,000 after purchasing an additional 171,046 shares in the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.

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.