Broadwood Partners, L.P. Purchases 336,946 Shares of STAAR Surgical (NASDAQ:STAA) Stock

STAAR Surgical Company (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. purchased 336,946 shares of STAAR Surgical stock in a transaction dated Tuesday, January 6th. The shares were acquired at an average cost of $21.62 per share, for a total transaction of $7,284,772.52. Following the completion of the transaction, the insider owned 15,356,437 shares of the company’s stock, valued at approximately $332,006,167.94. This represents a 2.24% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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. purchased 3,240 shares of STAAR Surgical stock. The stock was acquired 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. purchased 66,467 shares of STAAR Surgical stock. The shares were acquired at an average price of $22.00 per share, for a total transaction of $1,462,274.00.
• On Wednesday, November 19th, Broadwood Partners, L.P. bought 309,132 shares of STAAR Surgical stock. The stock was bought at an average price of $26.42 per share, with a total value of $8,167,267.44.
• On Friday, November 21st, Broadwood Partners, L.P. purchased 797,486 shares of STAAR Surgical stock. The shares were bought at an average price of $27.86 per share, for a total transaction of $22,217,959.96.
• On Thursday, November 20th, Broadwood Partners, L.P. purchased 393,382 shares of STAAR Surgical stock. The stock was bought at an average cost of $27.14 per share, with a total value of $10,676,387.48.

STAAR Surgical Stock Performance

STAA stock traded up $0.31 during midday trading on Thursday, reaching $22.50. The stock had a trading volume of 2,126,114 shares, compared to its average volume of 1,497,022. The firm has a fifty day simple moving average of $25.09 and a two-hundred day simple moving average of $24.37. STAAR Surgical Company has a 52-week low of $13.50 and a 52-week high of $30.81. The stock has a market cap of $1.12 billion, a PE ratio of -11.54 and a beta of 1.00.

Institutional Investors Weigh In On STAAR Surgical

Several large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted 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 buying an additional 1,016 shares during the period. CWM LLC boosted its position 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 increased its holdings in STAAR Surgical by 61.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 706 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in STAAR Surgical by 691.0% in 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 purchasing an additional 3,151 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in STAAR Surgical by 9,928.9% in the third 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 during the period. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Tuesday. Piper Sandler restated a “neutral” rating on shares of STAAR Surgical in a research note on Monday, October 27th. Canaccord Genuity Group boosted their price target on STAAR Surgical from $28.00 to $30.75 and gave the company a “hold” rating in a report on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a research note on Wednesday, October 8th. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $23.42.

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.