Broadwood Partners, L.P. Purchases 259,616 Shares of STAAR Surgical (NASDAQ:STAA) Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 259,616 shares of the stock in a transaction dated Wednesday, February 12th. The stock was bought at an average price of $14.96 per share, for a total transaction of $3,883,855.36. Following the purchase, the insider now directly owns 11,137,623 shares of the company’s stock, valued at approximately $166,618,840.08. The trade was a 2.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% 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 Friday, February 14th, Broadwood Partners, L.P. bought 36,532 shares of STAAR Surgical stock. The stock was bought at an average price of $15.49 per share, for a total transaction of $565,880.68.
• On Thursday, January 16th, Broadwood Partners, L.P. bought 8,221 shares of STAAR Surgical stock. The stock was bought at an average price of $21.50 per share, for a total transaction of $176,751.50.
• On Tuesday, January 14th, Broadwood Partners, L.P. bought 21,155 shares of STAAR Surgical stock. The stock was bought at an average price of $21.46 per share, for a total transaction of $453,986.30.
• On Wednesday, December 18th, Broadwood Partners, L.P. bought 23,000 shares of STAAR Surgical stock. The stock was bought at an average price of $24.33 per share, for a total transaction of $559,590.00.
• On Monday, December 16th, Broadwood Partners, L.P. bought 53,500 shares of STAAR Surgical stock. The stock was bought at an average price of $24.24 per share, for a total transaction of $1,296,840.00.

STAAR Surgical Price Performance

Shares of STAAR Surgical stock opened at $15.35 on Friday. The business has a 50 day simple moving average of $23.37 and a two-hundred day simple moving average of $28.89. STAAR Surgical has a 12 month low of $13.50 and a 12 month high of $52.68. The stock has a market capitalization of $756.45 million, a P/E ratio of 34.89 and a beta of 0.62.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of STAAR Surgical by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier’s stock valued at $142,232,000 after acquiring an additional 319,441 shares during the last quarter. State Street Corp increased its holdings in shares of STAAR Surgical by 0.5% in the third quarter. State Street Corp now owns 1,940,567 shares of the medical instruments supplier’s stock valued at $72,092,000 after purchasing an additional 10,430 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of STAAR Surgical in the fourth quarter valued at approximately $36,411,000. Geode Capital Management LLC increased its holdings in shares of STAAR Surgical by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock valued at $43,641,000 after purchasing an additional 31,212 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of STAAR Surgical by 25.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 853,370 shares of the medical instruments supplier’s stock valued at $20,728,000 after purchasing an additional 171,046 shares during the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on STAA. Piper Sandler reduced their price target on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday. StockNews.com cut STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday. Stephens reaffirmed an “equal weight” rating and issued a $28.00 price target on shares of STAAR Surgical in a report on Wednesday. BTIG Research cut STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Stifel Nicolaus reduced their price target on STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, STAAR Surgical has a consensus rating of “Hold” and an average target price of $26.86.

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.