Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Acquires $4,151,729.92 in Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 249,503 shares of the stock in a transaction 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 directly owns 11,953,198 shares of the company’s stock, valued at approximately $198,901,214.72. This represents a 2.13 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Major 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 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, 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 shares were acquired 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 acquired 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 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 shares were bought 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. purchased 23,000 shares of STAAR Surgical stock. The stock was bought 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. acquired 53,500 shares of STAAR Surgical stock. The shares were bought at an average price of $24.24 per share, for a total transaction of $1,296,840.00.

STAAR Surgical Stock Up 2.4 %

NASDAQ:STAA opened at $18.17 on Thursday. STAAR Surgical has a twelve month low of $13.50 and a twelve month high of $52.68. The firm has a market capitalization of $896.24 million, a price-to-earnings ratio of -44.32 and a beta of 0.66. The stock’s 50 day moving average price is $21.41 and its two-hundred day moving average price is $27.04.

Institutional Trading of STAAR Surgical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of STAAR Surgical by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock valued at $43,641,000 after acquiring an additional 31,212 shares during the period. HighTower Advisors LLC bought a new position in STAAR Surgical during the third quarter worth about $336,000. Polar Asset Management Partners Inc. increased its position in STAAR Surgical by 44.3% during the third quarter. Polar Asset Management Partners Inc. now owns 168,800 shares of the medical instruments supplier’s stock worth $6,271,000 after buying an additional 51,800 shares during the last quarter. JPMorgan Chase & Co. raised its stake in STAAR Surgical by 411.7% in the third quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock valued at $7,978,000 after buying an additional 172,779 shares during the period. Finally, Defender Capital LLC. lifted its position in shares of STAAR Surgical by 3.5% in the fourth quarter. Defender Capital LLC. now owns 701,567 shares of the medical instruments supplier’s stock valued at $17,041,000 after buying an additional 23,950 shares during the last quarter. 96.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

STAA has been the subject of a number of research analyst reports. Jefferies Financial Group lowered shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Piper Sandler reduced their price objective on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. StockNews.com lowered STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Stephens reaffirmed an “equal weight” rating and set a $28.00 price target on shares of STAAR Surgical in a research report on Wednesday, February 12th. Finally, William Blair cut shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.86.

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.