Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Buys 21,155 Shares of Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. bought 21,155 shares of STAAR Surgical stock in a transaction on Tuesday, January 14th. The stock was acquired at an average cost of $21.46 per share, with a total value of $453,986.30. Following the acquisition, the insider now owns 10,869,786 shares of the company’s stock, valued at $233,265,607.56. This trade represents a 0.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, January 16th, Broadwood Partners, L.P. purchased 8,221 shares of STAAR Surgical stock. The stock was bought at an average price of $21.50 per share, with a total value of $176,751.50.
• On Wednesday, December 18th, Broadwood Partners, L.P. acquired 23,000 shares of STAAR Surgical stock. The stock was bought at an average price of $24.33 per share, with a total value of $559,590.00.
• On Monday, December 16th, Broadwood Partners, L.P. bought 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 Performance

STAA stock opened at $22.29 on Friday. The stock’s 50 day moving average price is $25.38 and its 200 day moving average price is $31.92. The firm has a market cap of $1.10 billion, a P/E ratio of 50.66 and a beta of 0.63. STAAR Surgical has a 1 year low of $21.13 and a 1 year high of $52.68.

Institutional Trading of STAAR Surgical

Several institutional investors and hedge funds have recently made changes to their positions in STAA. JPMorgan Chase & Co. raised its stake in STAAR Surgical by 411.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock valued at $7,978,000 after purchasing an additional 172,779 shares during the last quarter. Exome Asset Management LLC purchased a new stake in shares of STAAR Surgical during the third quarter worth about $1,516,000. Franklin Resources Inc. raised its position in shares of STAAR Surgical by 80.1% in the third quarter. Franklin Resources Inc. now owns 31,844 shares of the medical instruments supplier’s stock valued at $1,183,000 after buying an additional 14,162 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of STAAR Surgical by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock valued at $43,641,000 after buying an additional 31,212 shares during the period. Finally, Barclays PLC lifted its stake in shares of STAAR Surgical by 349.4% during the third quarter. Barclays PLC now owns 91,707 shares of the medical instruments supplier’s stock valued at $3,406,000 after buying an additional 71,301 shares during the period. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STAA has been the topic of a number of research reports. Canaccord Genuity Group lowered their price target on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, December 9th. Stephens raised STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, STAAR Surgical has a consensus rating of “Hold” and a consensus target price of $42.83.

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.