Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Buys 66,467 Shares of Stock

STAAR Surgical Company (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 66,467 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were bought at an average cost of $22.00 per share, with a total value of $1,462,274.00. Following the completion of the transaction, the insider owned 15,422,904 shares in the company, valued at $339,303,888. The trade was a 0.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% 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 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 Tuesday, January 6th, Broadwood Partners, L.P. purchased 336,946 shares of STAAR Surgical stock. The shares were acquired at an average cost of $21.62 per share, with a total value of $7,284,772.52.
• On Wednesday, November 19th, Broadwood Partners, L.P. purchased 309,132 shares of STAAR Surgical stock. The shares were bought at an average price of $26.42 per share, for a total transaction of $8,167,267.44.
• On Friday, November 21st, Broadwood Partners, L.P. acquired 797,486 shares of STAAR Surgical stock. The shares were bought at an average cost 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 purchased at an average cost of $27.14 per share, for a total transaction of $10,676,387.48.

STAAR Surgical Stock Up 1.4%

STAAR Surgical stock traded up $0.31 during trading on Thursday, reaching $22.50. The stock had a trading volume of 2,126,114 shares, compared to its average volume of 1,497,022. STAAR Surgical Company has a 52-week low of $13.50 and a 52-week high of $30.81. The business has a 50 day moving average price of $25.09 and a 200 day moving average price of $24.37. The stock has a market cap of $1.12 billion, a PE ratio of -11.54 and a beta of 1.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Amalgamated Bank grew its position in shares of STAAR Surgical by 3.6% in the 3rd quarter. Amalgamated Bank now owns 14,609 shares of the medical instruments supplier’s stock valued at $393,000 after buying an additional 514 shares during the last quarter. CWM LLC increased its position in shares of STAAR Surgical by 74.1% during the second quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after purchasing an additional 665 shares in the last quarter. GAMMA Investing LLC lifted its holdings 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 during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of STAAR Surgical by 7.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,711 shares of the medical instruments supplier’s stock valued at $213,000 after purchasing an additional 923 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of STAAR Surgical by 4.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 22,168 shares of the medical instruments supplier’s stock worth $396,000 after acquiring an additional 934 shares during the last quarter. 96.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a report on Wednesday, October 8th. Piper Sandler reaffirmed a “neutral” rating on shares of STAAR Surgical in a research note on Monday, October 27th. Canaccord Genuity Group increased their price objective on shares of STAAR Surgical from $28.00 to $30.75 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. Wells Fargo & Company lifted their price target on STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research note on Tuesday. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average 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.