Broadwood Partners, L.P. Purchases 259,316 Shares of STAAR Surgical (NASDAQ:STAA) Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. acquired 259,316 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $17.05 per share, for a total transaction of $4,421,337.80. Following the purchase, the insider now owns 11,548,753 shares in the company, valued at approximately $196,906,238.65. This represents a 2.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large 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 Monday, March 3rd, Broadwood Partners, L.P. bought 249,503 shares of STAAR Surgical stock. The shares were purchased at an average price of $16.64 per share, for a total transaction of $4,151,729.92.
• On Friday, February 14th, Broadwood Partners, L.P. purchased 36,532 shares of STAAR Surgical stock. The shares were purchased 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. acquired 259,616 shares of STAAR Surgical stock. The stock was purchased at an average cost of $14.96 per share, with a total value of $3,883,855.36.
• On Thursday, January 16th, Broadwood Partners, L.P. bought 8,221 shares of STAAR Surgical stock. The stock was purchased at an average cost of $21.50 per share, for a total transaction of $176,751.50.
• On Tuesday, January 14th, Broadwood Partners, L.P. purchased 21,155 shares of STAAR Surgical stock. The shares were acquired at an average price of $21.46 per share, with a total value of $453,986.30.
• On Wednesday, December 18th, Broadwood Partners, L.P. acquired 23,000 shares of STAAR Surgical stock. The stock was acquired at an average price of $24.33 per share, for a total transaction of $559,590.00.
• On Monday, December 16th, Broadwood Partners, L.P. bought 53,500 shares of STAAR Surgical stock. The shares were acquired at an average price of $24.24 per share, with a total value of $1,296,840.00.

STAAR Surgical Stock Performance

Shares of NASDAQ STAA traded down $1.03 during midday trading on Monday, reaching $16.47. The company’s stock had a trading volume of 1,350,529 shares, compared to its average volume of 1,112,576. The company has a market cap of $812.38 million, a P/E ratio of -40.17 and a beta of 0.62. STAAR Surgical has a fifty-two week low of $13.50 and a fifty-two week high of $52.68. The business’s 50 day moving average price is $21.55 and its two-hundred day moving average price is $27.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in 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 buying an additional 31,212 shares during the period. HighTower Advisors LLC bought a new stake in shares of STAAR Surgical during the 3rd quarter worth approximately $336,000. Polar Asset Management Partners Inc. boosted its position in shares of STAAR Surgical by 44.3% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 168,800 shares of the medical instruments supplier’s stock worth $6,271,000 after acquiring an additional 51,800 shares in the last quarter. JPMorgan Chase & Co. increased 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 acquiring an additional 172,779 shares during the last quarter. Finally, Defender Capital LLC. boosted its holdings in shares of STAAR Surgical by 3.5% in the 4th quarter. Defender Capital LLC. now owns 701,567 shares of the medical instruments supplier’s stock valued at $17,041,000 after purchasing an additional 23,950 shares in the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on STAA. Mizuho downgraded STAAR Surgical from an “outperform” rating to a “neutral” rating and cut their price target for the company from $45.00 to $17.00 in a report on Wednesday, February 12th. William Blair cut shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note 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. Canaccord Genuity Group cut their price objective on shares of STAAR Surgical from $28.00 to $17.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Finally, Jefferies Financial Group cut STAAR Surgical from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.