STAAR Surgical (NASDAQ:STAA) Major Shareholder Broadwood Partners, L.P. Purchases 393,382 Shares of Stock

STAAR Surgical Company (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. purchased 393,382 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were purchased at an average cost of $27.14 per share, for a total transaction of $10,676,387.48. Following the completion of the purchase, the insider directly owned 14,222,005 shares in the company, valued at $385,985,215.70. The trade was a 2.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Major 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 Friday, November 21st, Broadwood Partners, L.P. acquired 797,486 shares of STAAR Surgical stock. The stock was purchased at an average cost of $27.86 per share, with a total value of $22,217,959.96.

STAAR Surgical Stock Up 2.4%

Shares of STAA traded up $0.65 on Friday, hitting $28.00. 2,018,133 shares of the stock traded hands, compared to its average volume of 1,165,158. The firm has a market capitalization of $1.39 billion, a P/E ratio of -14.51 and a beta of 0.92. STAAR Surgical Company has a 1 year low of $13.50 and a 1 year high of $30.81. The stock’s 50 day moving average is $26.56 and its two-hundred day moving average is $22.85.

Institutional Investors Weigh In On STAAR Surgical

Institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its stake 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 acquiring an additional 1,016 shares during the last quarter. CWM LLC grew its holdings 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 purchasing an additional 665 shares during the period. GAMMA Investing LLC grew its holdings in shares of STAAR Surgical by 61.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 706 shares during the period. US Bancorp DE increased its position in STAAR Surgical by 1,693.0% during the 1st quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 1,930 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in STAAR Surgical by 1,564.0% in the first quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier’s stock valued at $47,000 after buying an additional 2,518 shares during the period. Hedge funds and other institutional investors own 96.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on STAA. Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a research report on Wednesday, October 8th. Canaccord Genuity Group reissued a “hold” rating and issued a $28.00 price target on shares of STAAR Surgical in a research note on Tuesday, October 21st. Stifel Nicolaus set a $28.00 price target on STAAR Surgical and gave the company a “hold” rating in a report on Thursday, August 7th. Finally, Piper Sandler reiterated a “neutral” rating on shares of STAAR Surgical in a report on Monday, October 27th. Ten research 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 has a consensus rating of “Reduce” and an average price target of $20.67.

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.