Broadwood Partners, L.P. Purchases 336,946 Shares of STAAR Surgical (NASDAQ:STAA) Stock

STAAR Surgical Company (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 336,946 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was purchased at an average cost of $21.62 per share, for a total transaction of $7,284,772.52. Following the completion of the transaction, the insider owned 15,356,437 shares of the company’s stock, valued at $332,006,167.94. This represents a 2.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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 Thursday, January 8th, Broadwood Partners, L.P. purchased 3,240 shares of STAAR Surgical stock. The stock was purchased at an average price of $21.94 per share, with a total value of $71,085.60.
• On Wednesday, January 7th, Broadwood Partners, L.P. acquired 66,467 shares of STAAR Surgical stock. The stock was purchased at an average cost of $22.00 per share, with a total value of $1,462,274.00.
• On Wednesday, November 19th, Broadwood Partners, L.P. bought 309,132 shares of STAAR Surgical stock. The shares were purchased at an average cost of $26.42 per share, for a total transaction of $8,167,267.44.
• On Friday, November 21st, Broadwood Partners, L.P. bought 797,486 shares of STAAR Surgical stock. The stock was acquired 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 stock was acquired at an average cost of $27.14 per share, with a total value of $10,676,387.48.

STAAR Surgical Trading Down 1.7%

Shares of STAA stock opened at $22.12 on Friday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -11.34 and a beta of 1.00. STAAR Surgical Company has a 1-year low of $13.50 and a 1-year high of $30.81. The stock’s fifty day simple moving average is $25.01 and its 200-day simple moving average is $24.41.

Hedge Funds Weigh In On STAAR Surgical

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of STAAR Surgical from $28.00 to $30.75 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. BTIG Research reissued a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a research note on Wednesday, October 8th. Canaccord Genuity Group lifted their price objective on STAAR Surgical from $28.00 to $30.75 and gave the company a “hold” rating in a research report on Tuesday, December 9th. Finally, Piper Sandler restated a “neutral” rating on shares of STAAR Surgical in a research note on Monday, October 27th. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target 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.