STAAR Surgical (NASDAQ:STAA) Director Broadwood Partners, L.P. Purchases 316,017 Shares

STAAR Surgical Company (NASDAQ:STAA) Director Broadwood Partners, L.P. purchased 316,017 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $18.61 per share, with a total value of $5,881,076.37. Following the completion of the acquisition, the director directly owned 16,123,842 shares of the company’s stock, valued at approximately $300,064,699.62. This trade represents a 2.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, March 12th, Broadwood Partners, L.P. purchased 299,432 shares of STAAR Surgical stock. The stock was acquired at an average cost of $18.12 per share, for a total transaction of $5,425,707.84.
• On Wednesday, March 11th, Broadwood Partners, L.P. bought 54,764 shares of STAAR Surgical stock. The stock was purchased at an average price of $17.52 per share, with a total value of $959,465.28.
• On Friday, January 9th, Broadwood Partners, L.P. bought 27,485 shares of STAAR Surgical stock. The stock was purchased at an average price of $22.05 per share, for a total transaction of $606,044.25.
• On Thursday, January 8th, Broadwood Partners, L.P. acquired 3,240 shares of STAAR Surgical stock. The stock was bought 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. bought 66,467 shares of STAAR Surgical stock. The stock was bought 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. acquired 336,946 shares of STAAR Surgical stock. The shares were bought at an average price of $21.62 per share, for a total transaction of $7,284,772.52.

STAAR Surgical Trading Up 2.4%

NASDAQ STAA traded up $0.45 during trading hours on Friday, hitting $18.84. 1,120,436 shares of the company’s stock traded hands, compared to its average volume of 1,403,467. The business’s fifty day moving average price is $19.16 and its two-hundred day moving average price is $23.71. The firm has a market capitalization of $932.77 million, a P/E 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.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings results on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, sell-side analysts expect that STAAR Surgical Company will post -1.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. BTIG Research reissued a “neutral” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Canaccord Genuity Group dropped their target price on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating on the stock in a research report on Thursday, January 15th. Morgan Stanley began coverage on shares of STAAR Surgical in a report on Friday, January 16th. They issued an “underweight” rating and a $13.00 price target for the company. Jefferies Financial Group lowered their price objective on shares of STAAR Surgical from $28.00 to $21.50 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Finally, Wells Fargo & Company dropped their target price on STAAR Surgical from $30.75 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 5th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, STAAR Surgical has a consensus rating of “Reduce” and a consensus price target of $18.94.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its holdings in shares of 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 purchasing an additional 1,016 shares in the last quarter. GAMMA Investing LLC lifted its position in STAAR Surgical by 61.4% in the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after acquiring an additional 706 shares during the last quarter. PNC Financial Services Group Inc. raised its position in STAAR Surgical by 691.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock valued at $61,000 after purchasing an additional 3,151 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in STAAR Surgical by 375.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after acquiring an additional 4,673 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in STAAR Surgical by 9,928.9% during the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after purchasing an additional 4,468 shares in the last quarter. Institutional investors and hedge funds 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.