STAAR Surgical Company $STAA Shares Bought by Broadwood Capital Inc.

Broadwood Capital Inc. grew its stake in STAAR Surgical Company (NASDAQ:STAA) by 11.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,019,491 shares of the medical instruments supplier’s stock after buying an additional 1,500,000 shares during the period. STAAR Surgical makes up approximately 20.4% of Broadwood Capital Inc.’s holdings, making the stock its 3rd biggest position. Broadwood Capital Inc. owned about 30.20% of STAAR Surgical worth $346,800,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Magnetar Financial LLC lifted its position in shares of STAAR Surgical by 105.3% in the fourth quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock worth $57,087,000 after buying an additional 1,268,019 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of STAAR Surgical by 40.1% in the fourth quarter. Verition Fund Management LLC now owns 114,085 shares of the medical instruments supplier’s stock worth $2,634,000 after buying an additional 32,672 shares during the last quarter. Barclays PLC lifted its position in shares of STAAR Surgical by 9.4% in the fourth quarter. Barclays PLC now owns 77,839 shares of the medical instruments supplier’s stock worth $1,797,000 after buying an additional 6,666 shares during the last quarter. Marshall Wace LLP lifted its position in shares of STAAR Surgical by 136.2% in the fourth quarter. Marshall Wace LLP now owns 300,583 shares of the medical instruments supplier’s stock worth $6,940,000 after buying an additional 173,310 shares during the last quarter. Finally, Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of STAAR Surgical in the fourth quarter worth about $2,078,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Price Performance

NASDAQ STAA opened at $28.92 on Wednesday. STAAR Surgical Company has a twelve month low of $15.59 and a twelve month high of $35.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12. The stock has a market capitalization of $1.44 billion, a PE ratio of -67.25 and a beta of 1.23. The stock has a 50-day simple moving average of $27.98 and a 200 day simple moving average of $23.24.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. The business had revenue of $93.52 million during the quarter, compared to analysts’ expectations of $78.72 million. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The firm’s revenue was up 119.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.10) EPS. Research analysts anticipate that STAAR Surgical Company will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

STAA has been the subject of several research analyst reports. Canaccord Genuity Group boosted their price objective on STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Wells Fargo & Company boosted their price objective on STAAR Surgical from $16.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, May 15th. Piper Sandler boosted their price objective on STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Stifel Nicolaus boosted their price objective on STAAR Surgical from $18.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, May 14th. Finally, Mizuho boosted their price objective on STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.81.

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.