Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Purchases 31,780 Shares of Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. acquired 31,780 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was bought at an average price of $17.43 per share, with a total value of $553,925.40. Following the purchase, the insider now directly owns 12,487,044 shares of the company’s stock, valued at $217,649,176.92. This represents a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock 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 31st, Broadwood Partners, L.P. bought 22,189 shares of STAAR Surgical stock. The stock was purchased at an average cost of $17.46 per share, with a total value of $387,419.94.
• On Thursday, March 27th, Broadwood Partners, L.P. purchased 3,620 shares of STAAR Surgical stock. The shares were purchased at an average price of $17.48 per share, for a total transaction of $63,277.60.
• On Tuesday, March 25th, Broadwood Partners, L.P. acquired 34,296 shares of STAAR Surgical stock. The stock was purchased at an average price of $17.44 per share, with a total value of $598,122.24.
• On Thursday, March 20th, Broadwood Partners, L.P. bought 108,720 shares of STAAR Surgical stock. The shares were acquired at an average price of $17.96 per share, for a total transaction of $1,952,611.20.
• On Tuesday, March 18th, Broadwood Partners, L.P. purchased 93,124 shares of STAAR Surgical stock. The stock was acquired at an average price 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 shares were acquired at an average price of $16.64 per share, with a total value of $4,151,729.92.
• On Thursday, February 27th, Broadwood Partners, L.P. acquired 259,316 shares of STAAR Surgical stock. The stock was acquired at an average price of $17.05 per share, for a total transaction of $4,421,337.80.
• On Friday, February 14th, Broadwood Partners, L.P. purchased 36,532 shares of STAAR Surgical stock. The shares were bought at an average cost 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, 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 stock was bought at an average price of $21.50 per share, for a total transaction of $176,751.50.

STAAR Surgical Stock Performance

Shares of STAAR Surgical stock opened at $17.60 on Thursday. The company has a 50-day moving average of $19.12 and a two-hundred day moving average of $24.92. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $52.68. The stock has a market cap of $868.12 million, a PE ratio of -42.93 and a beta of 0.66.

Hedge Funds Weigh In On STAAR Surgical

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

Wall Street Analyst Weigh In

STAA has been the subject of several recent research reports. Piper Sandler decreased 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. William Blair downgraded shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Stifel Nicolaus cut their price target on shares of STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a report on Thursday, February 27th. Finally, Canaccord Genuity Group cut their target price on STAAR Surgical from $28.00 to $17.00 and set a “hold” rating for the company in a research note 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 stock. Based on data from MarketBeat.com, STAAR Surgical presently has a consensus rating of “Hold” and a consensus price target of $25.29.

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.