STAAR Surgical (NASDAQ:STAA) Major Shareholder Broadwood Partners, L.P. Acquires 259,316 Shares

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. purchased 259,316 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $17.05 per share, with a total value of $4,421,337.80. Following the completion of the transaction, the insider now owns 11,548,753 shares of the company’s stock, valued at approximately $196,906,238.65. This trade represents a 2.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% 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 Monday, March 3rd, Broadwood Partners, L.P. bought 249,503 shares of STAAR Surgical stock. The shares were purchased at an average price of $16.64 per share, for a total transaction of $4,151,729.92.
• On Friday, February 14th, Broadwood Partners, L.P. purchased 36,532 shares of STAAR Surgical stock. The stock was acquired at an average price of $15.49 per share, with a total value of $565,880.68.
• On Wednesday, February 12th, Broadwood Partners, L.P. acquired 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 shares were acquired at an average price of $21.50 per share, with a total value of $176,751.50.
• On Tuesday, January 14th, Broadwood Partners, L.P. purchased 21,155 shares of STAAR Surgical stock. The stock was acquired at an average cost of $21.46 per share, for a total transaction of $453,986.30.
• On Wednesday, December 18th, Broadwood Partners, L.P. acquired 23,000 shares of STAAR Surgical stock. The shares were bought 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 stock was bought at an average cost of $24.24 per share, for a total transaction of $1,296,840.00.

STAAR Surgical Price Performance

Shares of STAA stock opened at $16.47 on Tuesday. The company has a market cap of $812.38 million, a PE ratio of -40.17 and a beta of 0.62. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $52.68. The stock’s 50 day simple moving average is $21.55 and its two-hundred day simple moving average is $27.18.

Analyst Upgrades and Downgrades

STAA has been the topic of a number of research reports. Mizuho downgraded shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $45.00 to $17.00 in a report on Wednesday, February 12th. BTIG Research cut STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday, February 12th. Stifel Nicolaus dropped their price target on STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Piper Sandler cut their price target on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group decreased their price objective on STAAR Surgical from $28.00 to $17.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Two equities 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 data from MarketBeat, STAAR Surgical presently has an average rating of “Hold” and an average target price of $26.86.

Institutional Trading of STAAR Surgical

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Resona Asset Management Co. Ltd. purchased a new position in STAAR Surgical during the fourth quarter worth $36,411,000. Vanguard Group Inc. lifted its holdings in shares of STAAR Surgical by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier’s stock worth $142,232,000 after acquiring an additional 319,441 shares during the last quarter. Yunqi Capital Ltd boosted its stake in shares of STAAR Surgical by 48.9% during 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 during the period. JPMorgan Chase & Co. grew its holdings 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 raised its position in 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 during the period. 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.