Broadwood Partners, L.P. Acquires 249,503 Shares of STAAR Surgical (NASDAQ:STAA) Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 249,503 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $16.64 per share, with a total value of $4,151,729.92. Following the purchase, the insider now directly owns 11,953,198 shares of the company’s stock, valued at approximately $198,901,214.72. This trade represents a 2.13 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Major 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 Thursday, February 27th, Broadwood Partners, L.P. acquired 259,316 shares of STAAR Surgical stock. The shares were bought at an average cost of $17.05 per share, with a total value of $4,421,337.80.
• 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 Wednesday, February 12th, Broadwood Partners, L.P. purchased 259,616 shares of STAAR Surgical stock. The shares were bought at an average price of $14.96 per share, with a total value of $3,883,855.36.
• On Thursday, January 16th, Broadwood Partners, L.P. acquired 8,221 shares of STAAR Surgical stock. The stock was purchased 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. acquired 21,155 shares of STAAR Surgical stock. The shares were purchased at an average price of $21.46 per share, with a total value of $453,986.30.
• On Wednesday, December 18th, Broadwood Partners, L.P. bought 23,000 shares of STAAR Surgical stock. The stock was purchased at an average price of $24.33 per share, with a total value of $559,590.00.
• On Monday, December 16th, Broadwood Partners, L.P. purchased 53,500 shares of STAAR Surgical stock. The shares were purchased at an average price of $24.24 per share, for a total transaction of $1,296,840.00.

STAAR Surgical Stock Up 7.8 %

STAA opened at $17.75 on Wednesday. The firm has a market capitalization of $875.52 million, a P/E ratio of -43.29 and a beta of 0.62. The firm’s 50 day moving average is $21.41 and its 200-day moving average is $27.04. STAAR Surgical has a 52-week low of $13.50 and a 52-week high of $52.68.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Stifel Nicolaus lowered their price objective on STAAR Surgical from $38.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. BTIG Research lowered STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday, February 12th. Mizuho downgraded STAAR Surgical from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $45.00 to $17.00 in a report on Wednesday, February 12th. Jefferies Financial Group cut shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, Stephens reiterated an “equal weight” rating and issued a $28.00 price objective on shares of STAAR Surgical in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, STAAR Surgical currently has a consensus rating of “Hold” and a consensus target price of $26.86.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of STAAR Surgical by 2.7% during 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 acquiring an additional 31,212 shares in the last quarter. HighTower Advisors LLC purchased a new position in STAAR Surgical in the third quarter valued at about $336,000. Polar Asset Management Partners Inc. grew its stake in STAAR Surgical by 44.3% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 168,800 shares of the medical instruments supplier’s stock valued at $6,271,000 after purchasing an additional 51,800 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in STAAR Surgical by 411.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock worth $7,978,000 after purchasing an additional 172,779 shares during the last quarter. Finally, Defender Capital LLC. raised its position in shares of STAAR Surgical by 3.5% in the 4th quarter. Defender Capital LLC. now owns 701,567 shares of the medical instruments supplier’s stock valued at $17,041,000 after purchasing an additional 23,950 shares in the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.

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.