Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Buys 22,189 Shares of Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. purchased 22,189 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were purchased at an average cost of $17.46 per share, with a total value of $387,419.94. Following the completion of the purchase, the insider now directly owns 12,455,264 shares in the company, valued at approximately $217,468,909.44. This represents a 0.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 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 Wednesday, April 2nd, Broadwood Partners, L.P. acquired 31,780 shares of STAAR Surgical stock. The stock was purchased at an average price of $17.43 per share, for a total transaction of $553,925.40.
• On Thursday, March 27th, Broadwood Partners, L.P. bought 3,620 shares of STAAR Surgical stock. The stock was acquired at an average cost of $17.48 per share, with a total value of $63,277.60.
• On Tuesday, March 25th, Broadwood Partners, L.P. acquired 34,296 shares of STAAR Surgical stock. The stock was acquired at an average cost 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 shares were 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 bought at an average price of $17.54 per share, with a total value of $1,633,394.96.
• On Monday, March 3rd, Broadwood Partners, L.P. acquired 249,503 shares of STAAR Surgical stock. The stock was 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. purchased 259,316 shares of STAAR Surgical stock. The stock was purchased 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 purchased 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. purchased 259,616 shares of STAAR Surgical stock. The shares were purchased at an average price of $14.96 per share, with a total value of $3,883,855.36.
• On Thursday, January 16th, Broadwood Partners, L.P. acquired 8,221 shares of STAAR Surgical stock. The shares were acquired at an average cost of $21.50 per share, with a total value of $176,751.50.

STAAR Surgical Stock Performance

Shares of STAA opened at $15.92 on Friday. The stock has a fifty day moving average price of $18.82 and a two-hundred day moving average price of $24.76. The company has a market cap of $785.25 million, a price-to-earnings ratio of -38.83 and a beta of 0.75. STAAR Surgical has a 52-week low of $13.50 and a 52-week high of $52.68.

Analyst Upgrades and Downgrades

STAA has been the topic of several recent analyst reports. Piper Sandler dropped 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. Canaccord Genuity Group cut their target price on shares of STAAR Surgical from $28.00 to $17.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. William Blair lowered shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. BTIG Research lowered shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.29.

Institutional Trading of STAAR Surgical

Several hedge funds have recently modified their holdings of STAA. Quarry LP bought a new position in STAAR Surgical in the 3rd quarter valued at $50,000. FMR LLC increased its position in STAAR Surgical by 79.3% in the third quarter. FMR LLC now owns 7,092 shares of the medical instruments supplier’s stock worth $263,000 after purchasing an additional 3,136 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of STAAR Surgical during the 4th quarter worth approximately $180,000. HighTower Advisors LLC acquired a new stake in STAAR Surgical during the 3rd quarter worth $336,000. Finally, Bridgefront Capital LLC raised its position in shares of STAAR Surgical by 27.2% during the 4th quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier’s stock valued at $262,000 after acquiring an additional 2,306 shares during the last quarter. 96.70% of the stock is owned by 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.