Broadwood Partners, L.P. Acquires 299,432 Shares of STAAR Surgical (NASDAQ:STAA) Stock

STAAR Surgical Company (NASDAQ:STAA) Director Broadwood Partners, L.P. acquired 299,432 shares of the stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $18.12 per share, with a total value of $5,425,707.84. Following the completion of the transaction, the director owned 15,807,825 shares in the company, valued at approximately $286,437,789. This represents a 1.93% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Broadwood Partners, L.P. also recently made the following trade(s):

• On Friday, March 13th, Broadwood Partners, L.P. acquired 316,017 shares of STAAR Surgical stock. The stock was acquired at an average cost of $18.61 per share, for a total transaction of $5,881,076.37.
• On Wednesday, March 11th, Broadwood Partners, L.P. bought 54,764 shares of STAAR Surgical stock. The shares were acquired at an average price of $17.52 per share, for a total transaction of $959,465.28.
• On Friday, January 9th, Broadwood Partners, L.P. bought 27,485 shares of STAAR Surgical stock. The shares were acquired at an average cost of $22.05 per share, with a total value of $606,044.25.
• On Thursday, January 8th, Broadwood Partners, L.P. bought 3,240 shares of STAAR Surgical stock. The stock was acquired at an average price of $21.94 per share, with a total value of $71,085.60.
• On Wednesday, January 7th, Broadwood Partners, L.P. purchased 66,467 shares of STAAR Surgical stock. The stock was acquired at an average cost of $22.00 per share, for a total transaction of $1,462,274.00.
• On Tuesday, January 6th, Broadwood Partners, L.P. purchased 336,946 shares of STAAR Surgical stock. The shares were acquired at an average price of $21.62 per share, for a total transaction of $7,284,772.52.

STAAR Surgical Stock Up 2.4%

Shares of STAA stock opened at $18.84 on Friday. The company has a market cap of $932.82 million, a price-to-earnings ratio of -11.56 and a beta of 1.05. STAAR Surgical Company has a 52 week low of $14.69 and a 52 week high of $30.81. The firm has a 50 day moving average of $19.16 and a 200-day moving average of $23.69.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings data on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.51). STAAR Surgical had a negative net margin of 33.60% and a negative return on equity of 10.03%. The company had revenue of $57.80 million during the quarter, compared to the consensus estimate of $75.54 million. The company’s quarterly revenue was up 18.0% on a year-over-year basis. Analysts anticipate that STAAR Surgical Company will post -1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Amalgamated Bank increased its position in shares of STAAR Surgical by 3.6% during the third quarter. Amalgamated Bank now owns 14,609 shares of the medical instruments supplier’s stock worth $393,000 after acquiring an additional 514 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in STAAR Surgical by 58.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,669 shares of the medical instruments supplier’s stock valued at $39,000 after buying an additional 614 shares during the last quarter. GAMMA Investing LLC increased its stake in STAAR Surgical by 61.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 706 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of STAAR Surgical by 7.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,711 shares of the medical instruments supplier’s stock worth $213,000 after buying an additional 923 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of STAAR Surgical by 0.6% during the 3rd quarter. Invesco Ltd. now owns 150,896 shares of the medical instruments supplier’s stock worth $4,055,000 after buying an additional 956 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on STAA shares. Canaccord Genuity Group dropped their price objective on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating on the stock in a report on Thursday, January 15th. Jefferies Financial Group reduced their target price on STAAR Surgical from $28.00 to $21.50 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a research report on Thursday, January 22nd. Morgan Stanley started coverage on STAAR Surgical in a research note on Friday, January 16th. They set an “underweight” rating and a $13.00 price target on the stock. Finally, Wells Fargo & Company cut their price target on STAAR Surgical from $30.75 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $18.94.

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. 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.