Insider Buying: STAAR Surgical (NASDAQ:STAA) Director Purchases $5,881,076.37 in Stock

STAAR Surgical Company (NASDAQ:STAA) Director Broadwood Partners, L.P. purchased 316,017 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $18.61 per share, with a total value of $5,881,076.37. Following the completion of the purchase, the director owned 16,123,842 shares of the company’s stock, valued at $300,064,699.62. This trade represents a 2.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, March 12th, Broadwood Partners, L.P. purchased 299,432 shares of STAAR Surgical stock. The shares were bought at an average cost of $18.12 per share, for a total transaction of $5,425,707.84.
• On Wednesday, March 11th, Broadwood Partners, L.P. acquired 54,764 shares of STAAR Surgical stock. The shares were bought at an average price of $17.52 per share, for a total transaction of $959,465.28.
• On Friday, January 9th, Broadwood Partners, L.P. acquired 27,485 shares of STAAR Surgical stock. The stock was bought at an average cost of $22.05 per share, with a total value of $606,044.25.
• On Thursday, January 8th, Broadwood Partners, L.P. bought 3,240 shares of STAAR Surgical stock. The shares were bought 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. bought 66,467 shares of STAAR Surgical stock. The shares were bought at an average cost of $22.00 per share, for a total transaction of $1,462,274.00.
• On Tuesday, January 6th, Broadwood Partners, L.P. purchased 336,946 shares of STAAR Surgical stock. The stock was bought at an average price of $21.62 per share, for a total transaction of $7,284,772.52.

STAAR Surgical Stock Up 2.4%

STAA stock opened at $18.84 on Monday. STAAR Surgical Company has a 52 week low of $14.69 and a 52 week high of $30.81. The business has a 50-day simple moving average of $19.16 and a 200 day simple moving average of $23.66. The company has a market cap of $932.77 million, a PE ratio of -11.56 and a beta of 1.04.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on STAA. Wedbush began coverage on shares of STAAR Surgical in a research report on Tuesday, February 3rd. They set a “neutral” rating and a $26.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a report on Thursday, January 22nd. Wells Fargo & Company lowered their price target on STAAR Surgical from $30.75 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, March 5th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Finally, Stifel Nicolaus reduced their price objective 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. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $18.94.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. bought a new position in shares of STAAR Surgical in the 3rd quarter valued at $48,729,000. Broadwood Capital Inc. increased its holdings in STAAR Surgical by 11.1% in the 4th quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock worth $346,800,000 after purchasing an additional 1,500,000 shares in the last quarter. Magnetar Financial LLC raised its position in STAAR Surgical by 105.3% in the fourth quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock valued at $57,087,000 after purchasing an additional 1,268,019 shares during the last quarter. Goldman Sachs Group Inc. raised its position in STAAR Surgical by 112.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock valued at $47,952,000 after purchasing an additional 1,100,484 shares during the last quarter. Finally, Alpine Associates Management Inc. acquired a new stake in shares of STAAR Surgical during the third quarter valued at about $24,535,000. 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.