Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Acquires 249,503 Shares of Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 249,503 shares of STAAR Surgical stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $16.64 per share, with a total value of $4,151,729.92. Following the acquisition, the insider now directly owns 11,953,198 shares in the company, valued at $198,901,214.72. This trade represents a 2.13 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, February 27th, Broadwood Partners, L.P. bought 259,316 shares of STAAR Surgical stock. The stock was purchased at an average cost of $17.05 per share, for a total transaction of $4,421,337.80.
• On Friday, February 14th, Broadwood Partners, L.P. acquired 36,532 shares of STAAR Surgical stock. The shares were purchased at an average price of $15.49 per share, for a total transaction of $565,880.68.
• On Wednesday, February 12th, Broadwood Partners, L.P. purchased 259,616 shares of STAAR Surgical stock. The stock was acquired at an average price of $14.96 per share, for a total transaction of $3,883,855.36.
• On Thursday, January 16th, Broadwood Partners, L.P. bought 8,221 shares of STAAR Surgical stock. The shares were acquired at an average price of $21.50 per share, for a total transaction of $176,751.50.
• On Tuesday, January 14th, Broadwood Partners, L.P. purchased 21,155 shares of STAAR Surgical stock. The stock was acquired at an average price of $21.46 per share, with a total value of $453,986.30.
• On Wednesday, December 18th, Broadwood Partners, L.P. purchased 23,000 shares of STAAR Surgical stock. The shares were bought at an average cost of $24.33 per share, for a total transaction of $559,590.00.
• On Monday, December 16th, Broadwood Partners, L.P. acquired 53,500 shares of STAAR Surgical stock. The stock was bought at an average cost of $24.24 per share, with a total value of $1,296,840.00.

STAAR Surgical Stock Up 2.4 %

Shares of NASDAQ STAA opened at $18.17 on Thursday. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $52.68. The firm has a market cap of $896.24 million, a PE ratio of -44.32 and a beta of 0.66. The company’s fifty day simple moving average is $21.41 and its 200 day simple moving average is $27.04.

Analyst Ratings Changes

A number of brokerages recently commented on STAA. William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, February 27th. StockNews.com lowered shares of STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Mizuho downgraded shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $45.00 to $17.00 in a research report on Wednesday, February 12th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $28.00 target price on shares of STAAR Surgical in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.86.

Institutional Trading of STAAR Surgical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after acquiring an additional 393 shares in the last quarter. Creative Planning raised its holdings in STAAR Surgical by 8.0% during the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock worth $205,000 after buying an additional 408 shares during the last quarter. LMR Partners LLP raised its holdings in STAAR Surgical by 2.2% during the third quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier’s stock worth $1,290,000 after buying an additional 743 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of STAAR Surgical in the third quarter valued at $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of STAAR Surgical by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,123 shares of the medical instruments supplier’s stock valued at $683,000 after buying an additional 1,044 shares during the last quarter. 96.70% of the stock is owned by institutional investors.

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.