STAAR Surgical (NASDAQ:STAA) Major Shareholder Purchases $7,284,772.52 in Stock

STAAR Surgical Company (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. purchased 336,946 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was purchased at an average price of $21.62 per share, for a total transaction of $7,284,772.52. Following the completion of the transaction, the insider directly owned 15,356,437 shares in the company, valued at $332,006,167.94. This trade represents a 2.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, January 8th, Broadwood Partners, L.P. acquired 3,240 shares of STAAR Surgical stock. The shares were purchased 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. bought 66,467 shares of STAAR Surgical stock. The stock was purchased at an average cost of $22.00 per share, with a total value of $1,462,274.00.
• On Wednesday, November 19th, Broadwood Partners, L.P. bought 309,132 shares of STAAR Surgical stock. The stock was purchased at an average price of $26.42 per share, for a total transaction of $8,167,267.44.
• On Friday, November 21st, Broadwood Partners, L.P. purchased 797,486 shares of STAAR Surgical stock. The shares were purchased at an average cost of $27.86 per share, for a total transaction of $22,217,959.96.
• On Thursday, November 20th, Broadwood Partners, L.P. acquired 393,382 shares of STAAR Surgical stock. The stock was purchased at an average price of $27.14 per share, with a total value of $10,676,387.48.

STAAR Surgical Trading Down 1.7%

Shares of STAAR Surgical stock opened at $22.12 on Friday. The stock’s fifty day simple moving average is $25.01 and its 200 day simple moving average is $24.46. The company has a market capitalization of $1.10 billion, a PE ratio of -11.34 and a beta of 1.00. STAAR Surgical Company has a 12 month low of $13.50 and a 12 month high of $30.81.

Wall Street Analyst Weigh In

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

Institutional Trading of STAAR Surgical

A number of institutional investors have recently made changes to their positions in the business. Pinnacle Investment Management Ltd acquired a new stake in STAAR Surgical in the 1st quarter valued at $1,155,000. Strs Ohio acquired a new stake in shares of STAAR Surgical in the first quarter valued at about $190,000. Atika Capital Management LLC bought a new stake in STAAR Surgical during the second quarter worth about $275,000. Assenagon Asset Management S.A. boosted its position in STAAR Surgical by 213.1% during the second quarter. Assenagon Asset Management S.A. now owns 164,088 shares of the medical instruments supplier’s stock valued at $2,753,000 after purchasing an additional 111,686 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in STAAR Surgical during the first quarter valued at approximately $1,051,000. Institutional investors 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.