Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Acquires 27,485 Shares of Stock

STAAR Surgical Company (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. purchased 27,485 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The shares were purchased at an average cost of $22.05 per share, with a total value of $606,044.25. Following the completion of the acquisition, the insider owned 15,453,629 shares in the company, valued at $340,752,519.45. The trade was a 0.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more 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 stock was purchased at an average cost of $21.94 per share, for a total transaction of $71,085.60.
• On Wednesday, January 7th, Broadwood Partners, L.P. acquired 66,467 shares of STAAR Surgical stock. The shares were purchased at an average price of $22.00 per share, for a total transaction of $1,462,274.00.
• On Tuesday, January 6th, Broadwood Partners, L.P. bought 336,946 shares of STAAR Surgical stock. The shares were purchased at an average cost of $21.62 per share, with a total value of $7,284,772.52.
• On Wednesday, November 19th, Broadwood Partners, L.P. purchased 309,132 shares of STAAR Surgical stock. The stock was acquired 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 acquired 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 acquired at an average price of $27.14 per share, with a total value of $10,676,387.48.

STAAR Surgical Trading Down 4.0%

NASDAQ STAA traded down $0.88 during trading on Tuesday, reaching $21.13. The company’s stock had a trading volume of 1,935,622 shares, compared to its average volume of 1,549,608. The firm has a 50 day moving average price of $24.87 and a 200 day moving average price of $24.58. STAAR Surgical Company has a 12 month low of $13.50 and a 12 month high of $30.81. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -10.84 and a beta of 1.00.

Institutional Trading of STAAR Surgical

A number of institutional investors and hedge funds have recently made changes to their positions in STAA. Strs Ohio acquired a new position in STAAR Surgical in the 1st quarter valued at $190,000. Atika Capital Management LLC acquired a new position in shares of STAAR Surgical during the second quarter worth approximately $275,000. Assenagon Asset Management S.A. lifted its holdings in shares of 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 worth $2,753,000 after buying an additional 111,686 shares during the last quarter. Broadwood Capital Inc. boosted its position in shares of STAAR Surgical by 8.5% in the second quarter. Broadwood Capital Inc. now owns 13,519,491 shares of the medical instruments supplier’s stock valued at $226,857,000 after acquiring an additional 1,064,227 shares during the period. Finally, Yunqi Capital Ltd grew its stake in shares of STAAR Surgical by 24.4% in the second quarter. Yunqi Capital Ltd now owns 2,411,288 shares of the medical instruments supplier’s stock worth $40,461,000 after acquiring an additional 473,699 shares during the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

Wall Street Analyst Weigh In

STAA has been the subject of a number of recent analyst reports. BTIG Research reiterated a “neutral” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a research report on Wednesday, October 8th. Canaccord Genuity Group raised their target price 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. Wells Fargo & Company upped their price target on shares of STAAR Surgical from $28.00 to $30.75 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. 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.com, the company currently has an average rating of “Reduce” and an average price target of $23.42.

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.