STAAR Surgical (NASDAQ:STAA) Trading 3.4% Higher Following Insider Buying Activity

STAAR Surgical (NASDAQ:STAA) shot up 3.4% 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. 182,642 shares changed hands during trading, a decline of 83% from the average session volume of 1,087,530 shares. The stock had previously closed at $16.47.

Specifically, major shareholder Broadwood Partners, L.P. bought 249,503 shares of STAAR Surgical stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $16.64 per share, with a total value of $4,151,729.92. Following the purchase, the insider now owns 11,953,198 shares in the company, valued at approximately $198,901,214.72. This trade represents a 2.13 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 cost of $17.05 per share, for a total transaction of $4,421,337.80. Following the purchase, the insider now directly owns 11,548,753 shares in the company, valued at approximately $196,906,238.65. This trade represents a 2.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

STAA has been the topic of a number of recent research reports. Stifel Nicolaus dropped their target price on STAAR Surgical from $38.00 to $20.00 and set a “buy” rating on the stock 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 note on Wednesday, February 12th. Stephens reiterated an “equal weight” rating and set a $28.00 price target on shares of STAAR Surgical in a report on Wednesday, February 12th. Mizuho cut shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $45.00 to $17.00 in a research note on Wednesday, February 12th. Finally, Piper Sandler decreased their price target 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $26.86.

STAAR Surgical Trading Up 4.1 %

The firm has a 50-day moving average of $21.55 and a two-hundred day moving average of $27.18. The firm has a market capitalization of $845.33 million, a P/E ratio of -41.87 and a beta of 0.62.

Institutional Trading of STAAR Surgical

Several institutional investors have recently modified their holdings of the business. Van ECK Associates Corp lifted 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 buying an additional 393 shares during the period. Creative Planning lifted its stake in shares of STAAR Surgical by 8.0% in the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock worth $205,000 after acquiring an additional 408 shares during the period. LMR Partners LLP boosted its holdings in STAAR Surgical by 2.2% in the third quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier’s stock valued at $1,290,000 after acquiring an additional 743 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in STAAR Surgical by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,123 shares of the medical instruments supplier’s stock valued at $683,000 after purchasing an additional 1,044 shares during the period. Finally, Quarry LP bought a new position in STAAR Surgical during the 3rd quarter worth approximately $50,000. Institutional investors own 96.70% of the company’s stock.

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.