Broadwood Partners, L.P. Buys 497,631 Shares of STAAR Surgical (NASDAQ:STAA) Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. purchased 497,631 shares of STAAR Surgical stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $15.91 per share, with a total value of $7,917,309.21. Following the acquisition, the insider now owns 13,194,210 shares in the company, valued at approximately $209,919,881.10. This represents a 3.92 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major 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 Monday, April 7th, Broadwood Partners, L.P. acquired 138,054 shares of STAAR Surgical stock. The shares were bought at an average price of $15.61 per share, with a total value of $2,155,022.94.
• On Wednesday, April 2nd, Broadwood Partners, L.P. bought 31,780 shares of STAAR Surgical stock. The stock was purchased 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. purchased 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. bought 3,620 shares of STAAR Surgical stock. The stock was purchased at an average cost of $17.48 per share, for a total transaction of $63,277.60.
• On Tuesday, March 25th, Broadwood Partners, L.P. acquired 34,296 shares of STAAR Surgical stock. The shares were acquired at an average price of $17.44 per share, with a total value of $598,122.24.
• On Thursday, March 20th, Broadwood Partners, L.P. bought 108,720 shares of STAAR Surgical stock. The stock was bought at an average price of $17.96 per share, for a total transaction of $1,952,611.20.
• On Tuesday, March 18th, Broadwood Partners, L.P. purchased 93,124 shares of STAAR Surgical stock. The shares were purchased at an average price of $17.54 per share, for a total transaction of $1,633,394.96.
• On Monday, March 3rd, Broadwood Partners, L.P. bought 249,503 shares of STAAR Surgical stock. The shares were acquired 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. purchased 259,316 shares of STAAR Surgical stock. The stock was 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 shares were acquired at an average cost of $15.49 per share, for a total transaction of $565,880.68.

STAAR Surgical Stock Performance

NASDAQ STAA traded up $0.22 during trading hours on Monday, hitting $16.14. The company had a trading volume of 1,526,031 shares, compared to its average volume of 784,406. The business has a 50 day moving average of $18.65 and a 200-day moving average of $24.55. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $52.68. The company has a market cap of $796.11 million, a PE ratio of -39.37 and a beta of 0.75.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on STAA shares. Jefferies Financial Group cut STAAR Surgical from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. BTIG Research downgraded shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday, February 12th. Mizuho cut STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $45.00 to $17.00 in a report on Wednesday, February 12th. StockNews.com downgraded shares of STAAR Surgical from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research report on Thursday, February 27th. Two equities research 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.29.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in STAAR Surgical by 4,086.0% in the 1st quarter. GAMMA Investing LLC now owns 14,651 shares of the medical instruments supplier’s stock valued at $258,000 after acquiring an additional 14,301 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in STAAR Surgical by 13.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 110,506 shares of the medical instruments supplier’s stock worth $2,684,000 after acquiring an additional 13,075 shares during the period. Voloridge Investment Management LLC raised its position in STAAR Surgical by 9.4% in the fourth quarter. Voloridge Investment Management LLC now owns 296,256 shares of the medical instruments supplier’s stock worth $7,196,000 after acquiring an additional 25,350 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in STAAR Surgical by 81.3% in the fourth quarter. Squarepoint Ops LLC now owns 117,074 shares of the medical instruments supplier’s stock valued at $2,844,000 after acquiring an additional 52,488 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new stake in STAAR Surgical in the fourth quarter valued at $502,000. 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.