STAAR Surgical (NASDAQ:STAA) Stock Price Up 3.4% After Insider Buying Activity

STAAR Surgical (NASDAQ:STAA) rose 3.4% during mid-day trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $17.29 and last traded at $17.03. Approximately 182,642 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,087,530 shares. The stock had previously closed at $16.47.

Specifically, major shareholder Broadwood Partners, L.P. purchased 249,503 shares of STAAR Surgical stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $16.64 per share, for a total transaction of $4,151,729.92. Following the transaction, the insider now owns 11,953,198 shares in the company, valued at $198,901,214.72. This represents a 2.13 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Broadwood Partners, L.P. acquired 259,316 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $17.05 per share, for a total transaction of $4,421,337.80. Following the completion of the purchase, the insider now owns 11,548,753 shares of the company’s stock, valued at approximately $196,906,238.65. This represents a 2.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

Several equities analysts have commented on STAA shares. Piper Sandler lowered their target price 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. Stephens reissued an “equal weight” rating and issued a $28.00 price target on shares of STAAR Surgical in a research note on Wednesday, February 12th. Jefferies Financial Group cut shares of STAAR Surgical from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Mizuho downgraded STAAR Surgical from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $45.00 to $17.00 in a research note on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.86.

STAAR Surgical Trading Up 4.1 %

The firm has a market capitalization of $845.33 million, a price-to-earnings ratio of -41.87 and a beta of 0.62. The stock has a fifty day moving average price of $21.55 and a 200-day moving average price of $27.18.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new position in STAAR Surgical during the 3rd quarter valued at about $50,000. Quest Partners LLC bought a new position in STAAR Surgical in the third quarter valued at approximately $128,000. Van ECK Associates Corp grew its holdings 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 acquiring an additional 393 shares during the period. Larson Financial Group LLC lifted its stake in shares of STAAR Surgical by 78.3% in the 3rd quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier’s stock valued at $181,000 after purchasing an additional 2,135 shares during the period. Finally, Creative Planning boosted its position in shares of STAAR Surgical by 8.0% in the 3rd quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock worth $205,000 after purchasing an additional 408 shares during 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.