STAAR Surgical (NASDAQ:STAA) Director Broadwood Partners, L.P. Buys 299,432 Shares

STAAR Surgical Company (NASDAQ:STAA) Director Broadwood Partners, L.P. bought 299,432 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average cost of $18.12 per share, for a total transaction of $5,425,707.84. Following the completion of the purchase, the director owned 15,807,825 shares in the company, valued at $286,437,789. This trade represents a 1.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, March 13th, Broadwood Partners, L.P. bought 316,017 shares of STAAR Surgical stock. The shares were acquired at an average price of $18.61 per share, for a total transaction of $5,881,076.37.
• On Wednesday, March 11th, Broadwood Partners, L.P. purchased 54,764 shares of STAAR Surgical stock. The stock was 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, with a total value of $606,044.25.
• On Thursday, January 8th, Broadwood Partners, L.P. acquired 3,240 shares of STAAR Surgical stock. The shares were bought at an average cost of $21.94 per share, for a total transaction 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, for a total transaction 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 price of $21.62 per share, with a total value of $7,284,772.52.

STAAR Surgical Price Performance

STAA opened at $18.84 on Friday. The business has a fifty day moving average price of $19.16 and a 200 day moving average price of $23.71. STAAR Surgical Company has a 12 month low of $14.69 and a 12 month high of $30.81. The stock has a market capitalization of $932.77 million, a price-to-earnings ratio of -11.56 and a beta of 1.05.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings results 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). The company had revenue of $57.80 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. On average, research analysts anticipate that STAAR Surgical Company will post -1.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STAA. Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a report on Thursday, January 22nd. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Morgan Stanley began coverage on shares of STAAR Surgical in a report on Friday, January 16th. They issued an “underweight” rating and a $13.00 price objective on the stock. Canaccord Genuity Group decreased their price objective on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating for the company in a research report on Thursday, January 15th. Finally, Wells Fargo & Company lowered their target price on shares of 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. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $18.94.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STAA. Amalgamated Bank increased its stake in STAAR Surgical by 3.6% in the third quarter. Amalgamated Bank now owns 14,609 shares of the medical instruments supplier’s stock valued at $393,000 after purchasing an additional 514 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of STAAR Surgical by 58.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,669 shares of the medical instruments supplier’s stock worth $39,000 after buying an additional 614 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 706 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of STAAR Surgical by 7.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,711 shares of the medical instruments supplier’s stock valued at $213,000 after buying an additional 923 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of STAAR Surgical by 0.6% in the 3rd quarter. Invesco Ltd. now owns 150,896 shares of the medical instruments supplier’s stock valued at $4,055,000 after buying an additional 956 shares during the last quarter. 96.70% of the stock is 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.