STAAR Surgical (NASDAQ:STAA) Major Shareholder Purchases $8,167,267.44 in Stock

STAAR Surgical Company (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. purchased 309,132 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were purchased at an average cost of $26.42 per share, with a total value of $8,167,267.44. Following the purchase, the insider owned 13,828,623 shares of the company’s stock, valued at approximately $365,352,219.66. The trade was a 2.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 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 Friday, November 21st, Broadwood Partners, L.P. acquired 797,486 shares of STAAR Surgical stock. The shares were 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. acquired 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 Stock Performance

NASDAQ:STAA traded down $1.66 during mid-day trading on Monday, reaching $26.35. The stock had a trading volume of 305,099 shares, compared to its average volume of 1,161,142. The stock has a market capitalization of $1.31 billion, a P/E ratio of -13.65 and a beta of 0.92. The firm has a 50 day moving average price of $26.56 and a two-hundred day moving average price of $22.91. STAAR Surgical Company has a one year low of $13.50 and a one year high of $30.81.

Institutional Investors Weigh In On STAAR Surgical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new stake in STAAR Surgical in the 3rd quarter worth $208,000. Yunqi Capital Ltd raised its stake in shares of STAAR Surgical by 3.7% during the third quarter. Yunqi Capital Ltd now owns 2,500,061 shares of the medical instruments supplier’s stock valued at $67,177,000 after acquiring an additional 88,773 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of STAAR Surgical by 2,605.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 1,016 shares during the period. Morningstar Investment Management LLC bought a new stake in shares of STAAR Surgical in the third quarter worth about $1,070,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in STAAR Surgical by 3.6% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 57,625 shares of the medical instruments supplier’s stock valued at $1,546,000 after purchasing an additional 1,979 shares during the period. 96.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

STAA has been the subject of a number of recent research reports. Stifel Nicolaus set a $28.00 price objective on shares of STAAR Surgical and gave the stock a “hold” rating in a report on Thursday, August 7th. Piper Sandler reiterated a “neutral” rating on shares of STAAR Surgical in a research report on Monday, October 27th. Canaccord Genuity Group restated a “hold” rating and set a $28.00 price target on shares of STAAR Surgical in a research report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a research note on Wednesday, October 8th. Ten research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, STAAR Surgical has a consensus rating of “Reduce” and a consensus price target of $20.67.

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.