Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Acquires 259,316 Shares of Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 259,316 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were acquired 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. The trade was a 2.30 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 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. purchased 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 Friday, February 14th, Broadwood Partners, L.P. acquired 36,532 shares of STAAR Surgical stock. The stock was bought at an average cost of $15.49 per share, with a total value of $565,880.68.
• On Wednesday, February 12th, Broadwood Partners, L.P. bought 259,616 shares of STAAR Surgical stock. The shares were bought at an average cost of $14.96 per share, for a total transaction of $3,883,855.36.
• On Thursday, January 16th, Broadwood Partners, L.P. purchased 8,221 shares of STAAR Surgical stock. The stock was purchased 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. acquired 21,155 shares of STAAR Surgical stock. The shares were purchased at an average price of $21.46 per share, for a total transaction of $453,986.30.
• On Wednesday, December 18th, Broadwood Partners, L.P. bought 23,000 shares of STAAR Surgical stock. The stock was purchased at an average price of $24.33 per share, with a total value of $559,590.00.
• On Monday, December 16th, Broadwood Partners, L.P. purchased 53,500 shares of STAAR Surgical stock. The shares were purchased at an average price of $24.24 per share, for a total transaction of $1,296,840.00.

STAAR Surgical Trading Down 5.9 %

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 12-month low of $13.50 and a 12-month high of $52.68. The business’s fifty day simple moving average is $21.55 and its 200-day simple moving average is $27.18.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in STAA. Arcadia Investment Management Corp MI acquired a new stake in STAAR Surgical in the third quarter worth about $37,000. Quarry LP purchased a new position in shares of STAAR Surgical in the 3rd quarter valued at approximately $50,000. Quest Partners LLC acquired a new stake in STAAR Surgical in the 3rd quarter worth approximately $128,000. Van ECK Associates Corp grew its position 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 purchasing an additional 393 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in STAAR Surgical by 78.3% during 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 in the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

STAA has been the topic of several recent research reports. Canaccord Genuity Group dropped their target price on shares of STAAR Surgical from $28.00 to $17.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Stephens reiterated an “equal weight” rating and set a $28.00 price objective on shares of STAAR Surgical in a research note on Wednesday, February 12th. Stifel Nicolaus reduced their price objective on shares of STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. William Blair lowered STAAR Surgical from an “outperform” rating to a “market perform” rating in a report 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 assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.86.

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.