Broadwood Partners, L.P. Purchases 259,616 Shares of STAAR Surgical (NASDAQ:STAA) Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. acquired 259,616 shares of the company’s stock in a transaction that occurred on 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 acquisition, the insider now owns 11,137,623 shares in the company, valued at $166,618,840.08. This trade represents a 2.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, February 14th, Broadwood Partners, L.P. bought 36,532 shares of STAAR Surgical stock. The shares were purchased 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 shares were purchased at an average cost of $21.50 per share, with a total value of $176,751.50.
• On Tuesday, January 14th, Broadwood Partners, L.P. bought 21,155 shares of STAAR Surgical stock. The shares were purchased at an average cost of $21.46 per share, with a total value of $453,986.30.
• On Wednesday, December 18th, Broadwood Partners, L.P. bought 23,000 shares of STAAR Surgical stock. The shares were purchased at an average cost of $24.33 per share, with a total value of $559,590.00.
• On Monday, December 16th, Broadwood Partners, L.P. bought 53,500 shares of STAAR Surgical stock. The shares were purchased at an average cost of $24.24 per share, with a total value of $1,296,840.00.

STAAR Surgical Price Performance

Shares of NASDAQ:STAA opened at $15.35 on Friday. The business’s 50-day moving average is $23.37 and its 200 day moving average is $28.89. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $52.68. The firm has a market capitalization of $756.45 million, a P/E ratio of 34.89 and a beta of 0.62.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on STAA. BTIG Research lowered STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday. Jefferies Financial Group lowered STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Sandler reduced their price target on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday. StockNews.com lowered STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Stephens reissued an “equal weight” rating and issued a $28.00 price target on shares of STAAR Surgical in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $26.86.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Resona Asset Management Co. Ltd. purchased a new stake in STAAR Surgical during the 4th quarter valued at about $36,411,000. Vanguard Group Inc. grew its stake 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 purchasing an additional 319,441 shares during the last quarter. Yunqi Capital Ltd grew its stake in STAAR Surgical by 48.9% during the 4th 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 during the last quarter. JPMorgan Chase & Co. grew its stake in STAAR Surgical by 411.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock valued at $7,978,000 after purchasing an additional 172,779 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in STAAR Surgical by 25.1% during 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 purchasing an additional 171,046 shares during the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

About STAAR Surgical

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.