Broadwood Partners, L.P. Acquires 27,485 Shares of STAAR Surgical (NASDAQ:STAA) Stock

STAAR Surgical Company (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. purchased 27,485 shares of the stock in a transaction dated Friday, January 9th. The shares were acquired at an average cost of $22.05 per share, for a total transaction of $606,044.25. Following the completion of the acquisition, the insider directly owned 15,453,629 shares of the company’s stock, valued at approximately $340,752,519.45. This trade represents a 0.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares 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 stock was bought at an average cost of $21.94 per share, with a total value of $71,085.60.
• On Wednesday, January 7th, Broadwood Partners, L.P. bought 66,467 shares of STAAR Surgical stock. The stock was bought at an average price of $22.00 per share, with a total value of $1,462,274.00.
• On Tuesday, January 6th, Broadwood Partners, L.P. bought 336,946 shares of STAAR Surgical stock. The shares were bought 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 bought 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. acquired 797,486 shares of STAAR Surgical stock. The stock was bought 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. acquired 393,382 shares of STAAR Surgical stock. The shares were bought at an average price of $27.14 per share, for a total transaction of $10,676,387.48.

STAAR Surgical Price Performance

STAA opened at $21.82 on Thursday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -11.19 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 business has a 50 day moving average price of $24.80 and a two-hundred day moving average price of $24.56.

Analyst Upgrades and Downgrades

STAA has been the topic of several research reports. Piper Sandler reiterated a “neutral” rating on shares of STAAR Surgical in a research report on Monday, October 27th. Canaccord Genuity Group lifted their price objective on shares of STAAR Surgical from $28.00 to $30.75 and gave the stock a “hold” rating in a research note on Tuesday, December 9th. Weiss Ratings reissued a “sell (d)” rating on shares of STAAR Surgical in a research note on Wednesday, October 8th. BTIG Research restated a “neutral” rating on shares of STAAR Surgical in a report on Tuesday, January 6th. Finally, Wells Fargo & Company lifted their price target on shares of STAAR Surgical from $28.00 to $30.75 and gave the stock an “equal weight” rating in a research report on Wednesday, December 10th. Ten analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $23.42.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio acquired a new stake in STAAR Surgical during the 1st quarter worth about $190,000. Atika Capital Management LLC acquired a new position in shares of STAAR Surgical in the 2nd quarter valued at about $275,000. Assenagon Asset Management S.A. lifted its position in shares of STAAR Surgical by 213.1% in the second quarter. Assenagon Asset Management S.A. now owns 164,088 shares of the medical instruments supplier’s stock worth $2,753,000 after purchasing an additional 111,686 shares in the last quarter. Yunqi Capital Ltd boosted its holdings in shares of STAAR Surgical by 24.4% during the second quarter. Yunqi Capital Ltd now owns 2,411,288 shares of the medical instruments supplier’s stock worth $40,461,000 after purchasing an additional 473,699 shares during the period. Finally, Broadwood Capital Inc. grew its position in STAAR Surgical by 8.5% during the second quarter. Broadwood Capital Inc. now owns 13,519,491 shares of the medical instruments supplier’s stock valued at $226,857,000 after purchasing an additional 1,064,227 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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.