Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Purchases 336,946 Shares of Stock

STAAR Surgical Company (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. acquired 336,946 shares of the stock in a transaction dated Tuesday, January 6th. The stock was acquired at an average price of $21.62 per share, for a total transaction of $7,284,772.52. Following the completion of the transaction, the insider directly owned 15,356,437 shares of the company’s stock, valued at approximately $332,006,167.94. This represents a 2.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more 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 Thursday, January 8th, Broadwood Partners, L.P. bought 3,240 shares of STAAR Surgical stock. The shares were acquired 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 bought at an average cost of $22.00 per share, with a total value of $1,462,274.00.
• On Wednesday, November 19th, Broadwood Partners, L.P. bought 309,132 shares of STAAR Surgical stock. The stock was bought at an average cost of $26.42 per share, for a total transaction of $8,167,267.44.
• On Friday, November 21st, Broadwood Partners, L.P. bought 797,486 shares of STAAR Surgical stock. The shares were bought at an average price of $27.86 per share, with a total value of $22,217,959.96.
• On Thursday, November 20th, Broadwood Partners, L.P. bought 393,382 shares of STAAR Surgical stock. The shares were bought at an average cost of $27.14 per share, with a total value of $10,676,387.48.

STAAR Surgical Stock Up 1.4%

STAA stock traded up $0.31 during mid-day trading on Thursday, hitting $22.50. The company had a trading volume of 2,126,114 shares, compared to its average volume of 1,497,022. The company has a 50-day moving average price of $25.09 and a 200 day moving average price of $24.37. STAAR Surgical Company has a 12-month low of $13.50 and a 12-month high of $30.81. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -11.54 and a beta of 1.00.

Institutional Trading of STAAR Surgical

Several institutional investors and hedge funds have recently modified their holdings of STAA. Tudor Investment Corp ET AL bought a new position in STAAR Surgical in the third quarter worth approximately $4,113,000. Polar Asset Management Partners Inc. purchased a new stake in shares of STAAR Surgical in the 3rd quarter worth $3,359,000. CIBC Bancorp USA Inc. purchased a new position in shares of STAAR Surgical in the 3rd quarter valued at $208,000. Yunqi Capital Ltd lifted its stake in shares of STAAR Surgical by 3.7% during the 3rd quarter. Yunqi Capital Ltd now owns 2,500,061 shares of the medical instruments supplier’s stock worth $67,177,000 after purchasing an additional 88,773 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in 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 valued at $28,000 after purchasing an additional 1,016 shares in the last quarter. Institutional investors own 96.70% of the company’s stock.

Wall Street Analysts Forecast Growth

STAA has been the topic of several recent research reports. Canaccord Genuity Group upped their price objective on STAAR Surgical from $28.00 to $30.75 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Tuesday. Piper Sandler reissued a “neutral” rating on shares of STAAR Surgical in a research note on Monday, October 27th. BTIG Research restated a “neutral” rating on shares of STAAR Surgical in a report on Tuesday. Finally, Wells Fargo & Company increased their price target on shares of STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Ten analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $23.42.

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.