Broadwood Partners, L.P. Purchases 138,054 Shares of STAAR Surgical (NASDAQ:STAA) Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 138,054 shares of STAAR Surgical stock in a transaction on Monday, April 7th. The shares were purchased at an average cost of $15.61 per share, with a total value of $2,155,022.94. Following the acquisition, the insider now directly owns 13,332,264 shares of the company’s stock, valued at approximately $208,116,641.04. The trade was a 1.05 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, April 4th, Broadwood Partners, L.P. purchased 497,631 shares of STAAR Surgical stock. The shares were purchased at an average price of $15.91 per share, with a total value of $7,917,309.21.
• On Wednesday, April 2nd, Broadwood Partners, L.P. acquired 31,780 shares of STAAR Surgical stock. The stock was purchased at an average price of $17.43 per share, for a total transaction of $553,925.40.
• On Monday, March 31st, Broadwood Partners, L.P. bought 22,189 shares of STAAR Surgical stock. The shares were acquired at an average cost of $17.46 per share, with a total value of $387,419.94.
• On Thursday, March 27th, Broadwood Partners, L.P. purchased 3,620 shares of STAAR Surgical stock. The stock was acquired at an average cost of $17.48 per share, for a total transaction of $63,277.60.
• On Tuesday, March 25th, Broadwood Partners, L.P. acquired 34,296 shares of STAAR Surgical stock. The shares were acquired at an average cost of $17.44 per share, with a total value of $598,122.24.
• On Thursday, March 20th, Broadwood Partners, L.P. bought 108,720 shares of STAAR Surgical stock. The stock was acquired at an average cost of $17.96 per share, for a total transaction of $1,952,611.20.
• On Tuesday, March 18th, Broadwood Partners, L.P. purchased 93,124 shares of STAAR Surgical stock. The stock was bought at an average price of $17.54 per share, with a total value of $1,633,394.96.
• On Monday, March 3rd, Broadwood Partners, L.P. acquired 249,503 shares of STAAR Surgical stock. The shares were bought at an average price of $16.64 per share, for a total transaction of $4,151,729.92.
• On Thursday, February 27th, Broadwood Partners, L.P. bought 259,316 shares of STAAR Surgical stock. The stock was 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. purchased 36,532 shares of STAAR Surgical stock. The shares were purchased at an average cost of $15.49 per share, for a total transaction of $565,880.68.

STAAR Surgical Trading Down 6.5 %

Shares of NASDAQ:STAA opened at $15.09 on Wednesday. The company has a market cap of $744.31 million, a PE ratio of -36.80 and a beta of 0.75. The company’s 50 day moving average is $18.27 and its two-hundred day moving average is $24.38. STAAR Surgical has a 52 week low of $13.50 and a 52 week high of $52.68.

Wall Street Analyst Weigh In

STAA has been the subject of several recent analyst reports. Mizuho cut shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $45.00 to $17.00 in a research report on Wednesday, February 12th. BTIG Research lowered shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 12th. Stephens reiterated an “equal weight” rating and issued a $17.00 price objective on shares of STAAR Surgical in a research report on Tuesday, March 18th. Canaccord Genuity Group reduced their target price on STAAR Surgical from $28.00 to $17.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Finally, Piper Sandler reduced their price objective on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.29.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in STAAR Surgical during the third quarter worth approximately $50,000. FMR LLC grew its position in shares of STAAR Surgical by 79.3% during the third quarter. FMR LLC now owns 7,092 shares of the medical instruments supplier’s stock worth $263,000 after acquiring an additional 3,136 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of STAAR Surgical in the 4th quarter valued at $180,000. HighTower Advisors LLC purchased a new stake in STAAR Surgical in the 3rd quarter valued at $336,000. Finally, Bridgefront Capital LLC boosted its stake in STAAR Surgical by 27.2% during the 4th quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier’s stock worth $262,000 after purchasing an additional 2,306 shares during the period. 96.70% of the stock is owned by hedge funds and other institutional investors.

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.