Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Purchases 3,240 Shares of Stock

STAAR Surgical Company (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 3,240 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were bought at an average cost of $21.94 per share, for a total transaction of $71,085.60. Following the completion of the transaction, the insider directly owned 15,426,144 shares of the company’s stock, valued at $338,449,599.36. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, January 7th, Broadwood Partners, L.P. bought 66,467 shares of STAAR Surgical stock. The shares were purchased 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. bought 336,946 shares of STAAR Surgical stock. The shares were acquired at an average cost of $21.62 per share, for a total transaction of $7,284,772.52.
• On Wednesday, November 19th, Broadwood Partners, L.P. bought 309,132 shares of STAAR Surgical stock. The shares were bought at an average cost of $26.42 per share, with a total value of $8,167,267.44.
• 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, 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 stock was acquired at an average cost of $27.14 per share, with a total value of $10,676,387.48.

STAAR Surgical Stock Up 1.4%

Shares of NASDAQ:STAA traded up $0.31 on Thursday, reaching $22.50. The company had a trading volume of 2,126,114 shares, compared to its average volume of 1,497,022. The stock has a market capitalization of $1.12 billion, a P/E ratio of -11.54 and a beta of 1.00. The stock 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 twelve month low of $13.50 and a twelve month high of $30.81.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STAA. BTIG Research reissued a “neutral” 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. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Tuesday. Weiss Ratings reiterated a “sell (d)” rating on shares of STAAR Surgical in a report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price objective 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 equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $23.42.

Institutional Trading of STAAR Surgical

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC increased its position in STAAR Surgical by 74.1% during the 2nd quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after buying an additional 665 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in STAAR Surgical by 2,605.1% in 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 buying an additional 1,016 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 706 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of STAAR Surgical by 691.0% during the second quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock worth $61,000 after purchasing an additional 3,151 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in STAAR Surgical by 375.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock valued at $99,000 after acquiring an additional 4,673 shares during the period. Institutional investors own 96.70% of the company’s stock.

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.