STAAR Surgical (NASDAQ:STAA) Director Broadwood Partners, L.P. Purchases 316,017 Shares

STAAR Surgical Company (NASDAQ:STAA) Director Broadwood Partners, L.P. acquired 316,017 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $18.61 per share, with a total value of $5,881,076.37. Following the acquisition, the director owned 16,123,842 shares of the company’s stock, valued at approximately $300,064,699.62. This trade represents a 2.00% increase in their position. The transaction was disclosed in a 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 Thursday, March 12th, Broadwood Partners, L.P. bought 299,432 shares of STAAR Surgical stock. The stock was purchased at an average price of $18.12 per share, for a total transaction of $5,425,707.84.
• On Wednesday, March 11th, Broadwood Partners, L.P. purchased 54,764 shares of STAAR Surgical stock. The shares were purchased at an average cost of $17.52 per share, for a total transaction of $959,465.28.
• On Friday, January 9th, Broadwood Partners, L.P. purchased 27,485 shares of STAAR Surgical stock. The shares were purchased at an average cost of $22.05 per share, for a total transaction of $606,044.25.
• On Thursday, January 8th, Broadwood Partners, L.P. purchased 3,240 shares of STAAR Surgical stock. The stock was purchased 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 purchased 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. acquired 336,946 shares of STAAR Surgical stock. The shares were acquired at an average cost of $21.62 per share, for a total transaction of $7,284,772.52.

STAAR Surgical Stock Up 2.4%

Shares of STAA traded up $0.45 on Friday, hitting $18.84. The company’s stock had a trading volume of 1,120,436 shares, compared to its average volume of 1,403,467. The firm has a market capitalization of $932.77 million, a price-to-earnings ratio of -11.56 and a beta of 1.05. STAAR Surgical Company has a fifty-two week low of $14.69 and a fifty-two week high of $30.81. The firm’s fifty day moving average price is $19.16 and its 200-day moving average price is $23.71.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STAA. Morgan Stanley started coverage on STAAR Surgical in a report on Friday, January 16th. They issued an “underweight” rating and a $13.00 price objective for the company. BTIG Research restated a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a report on Tuesday, January 6th. Stifel Nicolaus lowered their price target on shares of STAAR Surgical from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, March 4th. Finally, Canaccord Genuity Group reduced their price target on STAAR Surgical from $30.75 to $22.00 and set a “hold” rating for the company in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $18.94.

Institutional Trading of STAAR Surgical

Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its stake in 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 valued at $28,000 after buying an additional 1,016 shares in the last quarter. GAMMA Investing LLC increased its holdings in STAAR Surgical by 61.4% in the third 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 in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of 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 acquiring an additional 3,151 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of 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 valued at $99,000 after buying an additional 4,673 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in STAAR Surgical by 9,928.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock valued at $121,000 after purchasing an additional 4,468 shares in the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Company Profile

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.