Broadwood Partners, L.P. Buys 20,144 Shares of STAAR Surgical (NASDAQ:STAA) Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. acquired 20,144 shares of STAAR Surgical stock in a transaction that occurred on Tuesday, September 5th. The shares were bought at an average cost of $41.87 per share, with a total value of $843,429.28. Following the transaction, the insider now owns 8,803,226 shares in the company, valued at $368,591,072.62. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 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 Thursday, September 7th, Broadwood Partners, L.P. acquired 60,874 shares of STAAR Surgical stock. The shares were bought at an average cost of $41.26 per share, with a total value of $2,511,661.24.

STAAR Surgical Stock Performance

NASDAQ STAA opened at $43.85 on Friday. The company has a market capitalization of $2.13 billion, a PE ratio of 87.70 and a beta of 1.09. The business’s fifty day moving average is $48.43 and its 200 day moving average is $56.48. STAAR Surgical has a fifty-two week low of $40.95 and a fifty-two week high of $97.16.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The company had revenue of $92.31 million for the quarter, compared to the consensus estimate of $93.04 million. STAAR Surgical had a return on equity of 8.37% and a net margin of 8.14%. On average, sell-side analysts forecast that STAAR Surgical will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of STAA. Raymond James & Associates lifted its position in shares of STAAR Surgical by 96.4% in the first quarter. Raymond James & Associates now owns 12,704 shares of the medical instruments supplier’s stock valued at $1,015,000 after acquiring an additional 6,234 shares in the last quarter. US Bancorp DE grew its stake in STAAR Surgical by 23.5% during the first quarter. US Bancorp DE now owns 2,735 shares of the medical instruments supplier’s stock valued at $219,000 after acquiring an additional 520 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in STAAR Surgical by 18.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,287 shares of the medical instruments supplier’s stock valued at $102,000 after acquiring an additional 202 shares in the last quarter. Rhumbline Advisers lifted its stake in STAAR Surgical by 2.2% in the 1st quarter. Rhumbline Advisers now owns 139,573 shares of the medical instruments supplier’s stock worth $11,153,000 after purchasing an additional 3,005 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in STAAR Surgical by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,445 shares of the medical instruments supplier’s stock worth $1,394,000 after purchasing an additional 1,663 shares in the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on STAA shares. Stifel Nicolaus reduced their target price on STAAR Surgical from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, August 21st. Canaccord Genuity Group reissued a “hold” rating and issued a $48.00 target price (down previously from $77.00) on shares of STAAR Surgical in a report on Thursday, August 3rd. StockNews.com raised STAAR Surgical from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Canaccord Genuity Group downgraded STAAR Surgical from a “buy” rating to a “hold” rating and dropped their price target for the stock from $77.00 to $48.00 in a research note on Thursday, August 3rd. Finally, Stephens restated an “overweight” rating and issued a $57.00 price target on shares of STAAR Surgical in a research note on Monday, August 14th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.10.

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 Visian implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.