Insider Buying: STAAR Surgical (NASDAQ:STAA) Director Purchases $5,425,707.84 in Stock

STAAR Surgical Company (NASDAQ:STAA) Director Broadwood Partners, L.P. purchased 299,432 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $18.12 per share, with a total value of $5,425,707.84. Following the completion of the purchase, the director owned 15,807,825 shares in the company, valued at approximately $286,437,789. This trade represents a 1.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Broadwood Partners, L.P. also recently made the following trade(s):

• On Friday, March 13th, Broadwood Partners, L.P. acquired 316,017 shares of STAAR Surgical stock. The stock was acquired at an average cost of $18.61 per share, for a total transaction of $5,881,076.37.
• On Wednesday, March 11th, Broadwood Partners, L.P. bought 54,764 shares of STAAR Surgical stock. The shares were acquired at an average cost of $17.52 per share, with a total value of $959,465.28.
• On Friday, January 9th, Broadwood Partners, L.P. purchased 27,485 shares of STAAR Surgical stock. The stock was acquired at an average price of $22.05 per share, for a total transaction of $606,044.25.
• On Thursday, January 8th, Broadwood Partners, L.P. acquired 3,240 shares of STAAR Surgical stock. The shares were acquired 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. acquired 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 stock was bought at an average cost of $21.62 per share, for a total transaction of $7,284,772.52.

STAAR Surgical Stock Performance

NASDAQ STAA opened at $18.84 on Monday. The business’s fifty day moving average is $19.16 and its 200 day moving average is $23.66. STAAR Surgical Company has a fifty-two week low of $14.69 and a fifty-two week high of $30.81. The company has a market capitalization of $932.77 million, a PE ratio of -11.56 and a beta of 1.04.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.51). The firm had revenue of $57.80 million for the quarter, compared to analysts’ expectations of $75.54 million. STAAR Surgical had a negative net margin of 33.60% and a negative return on equity of 10.03%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, sell-side analysts forecast that STAAR Surgical Company will post -1.14 EPS for the current year.

Analyst Ratings Changes

STAA has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on STAAR Surgical from $30.75 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, March 5th. BTIG Research reaffirmed a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Morgan Stanley began coverage on STAAR Surgical in a research report on Friday, January 16th. They set an “underweight” rating and a $13.00 target price for the company. Stifel Nicolaus decreased their target price on STAAR Surgical from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, March 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of STAAR Surgical in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $18.94.

Institutional Investors Weigh In On STAAR Surgical

Several large investors have recently made changes to their positions in STAA. Caitong International Asset Management Co. Ltd lifted its position in shares of STAAR Surgical by 2,605.1% in 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 buying an additional 1,016 shares in the last quarter. GAMMA Investing LLC grew its holdings in STAAR Surgical by 61.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 706 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in STAAR Surgical by 691.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock valued at $61,000 after buying an additional 3,151 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in STAAR Surgical by 375.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after acquiring an additional 4,673 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in STAAR Surgical by 9,928.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after acquiring an additional 4,468 shares during the last quarter. 96.70% of the stock is owned by institutional investors.

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.