STAAR Surgical (NASDAQ:STAA) Major Shareholder Buys $598,122.24 in Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 34,296 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were purchased at an average cost of $17.44 per share, for a total transaction of $598,122.24. Following the completion of the acquisition, the insider now owns 12,319,691 shares of the company’s stock, valued at $214,855,411.04. This trade represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, March 20th, Broadwood Partners, L.P. acquired 108,720 shares of STAAR Surgical stock. The stock was acquired at an average cost of $17.96 per share, for a total transaction of $1,952,611.20.
• On Tuesday, March 18th, Broadwood Partners, L.P. bought 93,124 shares of STAAR Surgical stock. The shares were acquired at an average cost of $17.54 per share, with a total value of $1,633,394.96.
• On Monday, March 3rd, Broadwood Partners, L.P. purchased 249,503 shares of STAAR Surgical stock. The stock was 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. acquired 259,316 shares of STAAR Surgical stock. The shares were bought at an average price of $17.05 per share, with a total value of $4,421,337.80.
• On Friday, February 14th, Broadwood Partners, L.P. bought 36,532 shares of STAAR Surgical stock. The stock was bought 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 stock was bought 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 bought at an average price of $21.50 per share, for a total transaction of $176,751.50.
• On Tuesday, January 14th, Broadwood Partners, L.P. bought 21,155 shares of STAAR Surgical stock. The stock was purchased at an average cost of $21.46 per share, for a total transaction of $453,986.30.

STAAR Surgical Price Performance

Shares of STAA stock opened at $17.46 on Wednesday. The firm has a market cap of $861.21 million, a P/E ratio of -42.59 and a beta of 0.66. STAAR Surgical has a fifty-two week low of $13.50 and a fifty-two week high of $52.68. The stock’s 50-day moving average is $19.69 and its two-hundred day moving average is $25.43.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in STAAR Surgical by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,123 shares of the medical instruments supplier’s stock worth $683,000 after acquiring an additional 1,044 shares in the last quarter. Quarry LP acquired a new stake in shares of STAAR Surgical in the 3rd quarter valued at $50,000. MetLife Investment Management LLC boosted its holdings in STAAR Surgical by 6.3% in the fourth quarter. MetLife Investment Management LLC now owns 30,396 shares of the medical instruments supplier’s stock worth $738,000 after purchasing an additional 1,796 shares in the last quarter. Larson Financial Group LLC increased its position in STAAR Surgical by 78.3% during the third quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier’s stock worth $181,000 after buying an additional 2,135 shares during the last quarter. Finally, Bridgefront Capital LLC raised its holdings in STAAR Surgical by 27.2% during the fourth quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier’s stock valued at $262,000 after buying an additional 2,306 shares in the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STAA. Canaccord Genuity Group lowered their price objective on shares of STAAR Surgical from $28.00 to $17.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Stephens reiterated an “equal weight” rating and set a $17.00 price target on shares of STAAR Surgical in a report on Tuesday, March 18th. William Blair downgraded STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. BTIG Research cut STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 12th. Finally, StockNews.com downgraded STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, STAAR Surgical currently has an average rating of “Hold” and an average target price of $25.29.

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.