Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Buys $1,462,274.00 in Stock

STAAR Surgical Company (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 66,467 shares of the stock in a transaction on Wednesday, January 7th. The shares were bought at an average price of $22.00 per share, for a total transaction of $1,462,274.00. Following the acquisition, the insider owned 15,422,904 shares in the company, valued at $339,303,888. The trade was a 0.43% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock 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 bought at an average cost of $21.94 per share, with a total value of $71,085.60.
• On Tuesday, January 6th, Broadwood Partners, L.P. acquired 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.
• On Wednesday, November 19th, Broadwood Partners, L.P. acquired 309,132 shares of STAAR Surgical stock. The shares were 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. bought 797,486 shares of STAAR Surgical stock. The stock was purchased 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 shares were purchased at an average cost of $27.14 per share, for a total transaction of $10,676,387.48.

STAAR Surgical Price Performance

NASDAQ:STAA opened at $22.12 on Friday. The firm has a market cap of $1.10 billion, a PE ratio of -11.34 and a beta of 1.00. The firm has a 50 day simple moving average of $25.01 and a 200-day simple moving average of $24.46. STAAR Surgical Company has a 1-year low of $13.50 and a 1-year high of $30.81.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in STAAR Surgical during the fourth quarter worth approximately $606,000. Tudor Investment Corp ET AL acquired a new position in shares of STAAR Surgical during the 3rd quarter valued at $4,113,000. Polar Asset Management Partners Inc. acquired a new position in shares of STAAR Surgical during the 3rd quarter valued at $3,359,000. CIBC Bancorp USA Inc. purchased a new stake in STAAR Surgical during the 3rd quarter worth $208,000. Finally, Yunqi Capital Ltd increased its holdings in STAAR Surgical by 3.7% in the 3rd quarter. Yunqi Capital Ltd now owns 2,500,061 shares of the medical instruments supplier’s stock valued at $67,177,000 after purchasing an additional 88,773 shares in the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on STAA. Piper Sandler restated a “neutral” rating on shares of STAAR Surgical in a report on Monday, October 27th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Tuesday. Wells Fargo & Company upped their price objective on shares of STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. Canaccord Genuity Group increased their price objective on shares of STAAR Surgical from $28.00 to $30.75 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Finally, BTIG Research restated a “neutral” rating on shares of STAAR Surgical in a report on Tuesday. Ten investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price 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.