STAAR Surgical (NASDAQ:STAA) Director Broadwood Partners, L.P. Purchases 54,764 Shares

STAAR Surgical Company (NASDAQ:STAA) Director Broadwood Partners, L.P. bought 54,764 shares of the stock in a transaction dated Wednesday, March 11th. The stock was bought at an average price of $17.52 per share, for a total transaction of $959,465.28. Following the purchase, the director directly owned 15,508,393 shares of the company’s stock, valued at approximately $271,707,045.36. The trade was a 0.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, March 13th, Broadwood Partners, L.P. purchased 316,017 shares of STAAR Surgical stock. The shares were purchased at an average cost of $18.61 per share, for a total transaction of $5,881,076.37.
• On Thursday, March 12th, Broadwood Partners, L.P. bought 299,432 shares of STAAR Surgical stock. The shares were purchased at an average cost of $18.12 per share, for a total transaction of $5,425,707.84.
• On Friday, January 9th, Broadwood Partners, L.P. purchased 27,485 shares of STAAR Surgical stock. The shares were acquired 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. purchased 3,240 shares of STAAR Surgical stock. The stock was bought at an average cost of $21.94 per share, for a total transaction 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 price 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 purchased at an average price of $21.62 per share, with a total value of $7,284,772.52.

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA traded up $0.45 during trading on Friday, reaching $18.84. The stock had a trading volume of 1,120,436 shares, compared to its average volume of 1,403,467. STAAR Surgical Company has a 1-year low of $14.69 and a 1-year high of $30.81. The stock has a market cap of $932.77 million, a PE ratio of -11.56 and a beta of 1.05. The business has a fifty day moving average price of $19.16 and a 200-day moving average price of $23.71.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings data on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.51). The business had revenue of $57.80 million during the quarter, compared to analyst estimates of $75.54 million. STAAR Surgical had a negative net margin of 33.60% and a negative return on equity of 10.03%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. Sell-side analysts expect that STAAR Surgical Company will post -1.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Stifel Nicolaus cut their target price on STAAR Surgical from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, March 4th. Wells Fargo & Company cut their price objective on STAAR Surgical from $30.75 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, March 5th. Canaccord Genuity Group lowered their target price on STAAR Surgical from $30.75 to $22.00 and set a “hold” rating for the company in a report on Thursday, January 15th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. One investment 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 data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $18.94.

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds have recently made changes to their positions in STAA. Caitong International Asset Management Co. Ltd grew its stake in STAAR Surgical by 58.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,669 shares of the medical instruments supplier’s stock worth $39,000 after buying an additional 614 shares during the last quarter. Invesco Ltd. increased its stake in STAAR Surgical by 7.1% in the 4th quarter. Invesco Ltd. now owns 161,548 shares of the medical instruments supplier’s stock valued at $3,730,000 after buying an additional 10,652 shares during the period. XTX Topco Ltd acquired a new stake in STAAR Surgical in the fourth quarter valued at about $746,000. Symmetry Investments LP purchased a new stake in shares of STAAR Surgical in the fourth quarter valued at approximately $924,000. Finally, Millennium Management LLC lifted its holdings in STAAR Surgical by 125.4% in the fourth quarter. Millennium Management LLC now owns 451,291 shares of the medical instruments supplier’s stock valued at $10,420,000 after acquiring an additional 251,072 shares during the period. Hedge funds and other 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.