Broadwood Partners, L.P. Acquires 66,467 Shares of STAAR Surgical (NASDAQ:STAA) Stock

STAAR Surgical Company (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. purchased 66,467 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were bought at an average cost of $22.00 per share, with a total value of $1,462,274.00. Following the transaction, the insider directly owned 15,422,904 shares of the company’s stock, valued at $339,303,888. This represents a 0.43% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more 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 Thursday, January 8th, Broadwood Partners, L.P. acquired 3,240 shares of STAAR Surgical stock. The shares were acquired at an average price of $21.94 per share, for a total transaction of $71,085.60.
• On Tuesday, January 6th, Broadwood Partners, L.P. bought 336,946 shares of STAAR Surgical stock. The stock was acquired at an average cost of $21.62 per share, for a total transaction of $7,284,772.52.
• On Wednesday, November 19th, Broadwood Partners, L.P. purchased 309,132 shares of STAAR Surgical stock. The stock was acquired at an average cost of $26.42 per share, with a total value of $8,167,267.44.
• On Friday, November 21st, Broadwood Partners, L.P. purchased 797,486 shares of STAAR Surgical stock. The stock was purchased at an average price of $27.86 per share, with a total value of $22,217,959.96.
• On Thursday, November 20th, Broadwood Partners, L.P. bought 393,382 shares of STAAR Surgical stock. The shares were acquired at an average cost of $27.14 per share, for a total transaction of $10,676,387.48.

STAAR Surgical Price Performance

Shares of NASDAQ STAA traded up $0.31 during midday trading on Thursday, hitting $22.50. 2,126,114 shares of the company’s stock were exchanged, compared to its average volume of 1,497,022. The stock’s 50 day moving average price is $25.09 and its 200-day moving average price is $24.37. The firm has a market cap of $1.12 billion, a P/E ratio of -11.54 and a beta of 1.00. STAAR Surgical Company has a twelve month low of $13.50 and a twelve month high of $30.81.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised its holdings in STAAR Surgical by 74.1% during the second quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock valued at $26,000 after acquiring an additional 665 shares during the period. Caitong International Asset Management Co. Ltd raised its position in STAAR Surgical by 2,605.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 1,016 shares during the period. GAMMA Investing LLC lifted its position in shares of STAAR Surgical by 61.4% during the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 706 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of STAAR Surgical by 691.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock worth $61,000 after buying an additional 3,151 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in STAAR Surgical by 375.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock valued at $99,000 after buying an additional 4,673 shares during the period. 96.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

STAA has been the topic of a number of recent analyst reports. Piper Sandler restated a “neutral” rating on shares of STAAR Surgical in a research report on Monday, October 27th. Wells Fargo & Company raised their price objective on STAAR Surgical from $28.00 to $30.75 and gave the stock an “equal weight” rating in a research note on Wednesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Tuesday. Canaccord Genuity Group boosted their price target on STAAR Surgical from $28.00 to $30.75 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. Finally, BTIG Research reiterated a “neutral” rating on shares of STAAR Surgical in a report on Tuesday. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, STAAR Surgical currently has a consensus rating of “Reduce” and an average target price of $23.42.

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.