Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Buys 53,500 Shares of Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. acquired 53,500 shares of STAAR Surgical stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $24.24 per share, with a total value of $1,296,840.00. Following the completion of the transaction, the insider now directly owns 10,821,931 shares of the company’s stock, valued at $262,323,607.44. This trade represents a 0.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 Wednesday, December 18th, Broadwood Partners, L.P. bought 23,000 shares of STAAR Surgical stock. The stock was purchased at an average price of $24.33 per share, for a total transaction of $559,590.00.

STAAR Surgical Price Performance

STAAR Surgical stock opened at $24.98 on Friday. The company’s 50-day moving average is $28.31 and its 200-day moving average is $34.56. The firm has a market capitalization of $1.23 billion, a PE ratio of 56.77 and a beta of 0.59. STAAR Surgical has a fifty-two week low of $23.72 and a fifty-two week high of $52.68.

Analysts Set New Price Targets

STAA has been the topic of a number of recent research reports. Stephens upgraded shares of STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Thursday, October 31st. Canaccord Genuity Group reduced their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Finally, Stifel Nicolaus lowered their target price on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.83.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors have recently bought and sold shares of STAA. Arcadia Investment Management Corp MI acquired a new stake in shares of STAAR Surgical in the third quarter valued at approximately $37,000. Quarry LP bought a new stake in STAAR Surgical in the 3rd quarter valued at $50,000. Quest Partners LLC acquired a new stake in STAAR Surgical during the 3rd quarter valued at $128,000. Canada Pension Plan Investment Board bought a new position in STAAR Surgical during the second quarter worth $129,000. Finally, Van ECK Associates Corp increased its holdings in shares of STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after purchasing an additional 393 shares during the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

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.