Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Acquires 8,221 Shares of Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. acquired 8,221 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was bought at an average price of $21.50 per share, with a total value of $176,751.50. Following the completion of the acquisition, the insider now directly owns 10,878,007 shares in the company, valued at approximately $233,877,150.50. This represents a 0.08 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more 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 Tuesday, January 14th, Broadwood Partners, L.P. purchased 21,155 shares of STAAR Surgical stock. The shares were bought at an average price of $21.46 per share, for a total transaction of $453,986.30.
• On Wednesday, December 18th, Broadwood Partners, L.P. bought 23,000 shares of STAAR Surgical stock. The shares were purchased at an average price of $24.33 per share, for a total transaction of $559,590.00.
• On Monday, December 16th, Broadwood Partners, L.P. bought 53,500 shares of STAAR Surgical stock. The stock was purchased at an average price of $24.24 per share, with a total value of $1,296,840.00.

STAAR Surgical Price Performance

STAAR Surgical stock traded up $0.14 during mid-day trading on Thursday, reaching $21.85. The stock had a trading volume of 531,485 shares, compared to its average volume of 732,698. STAAR Surgical has a one year low of $21.13 and a one year high of $52.68. The company has a 50-day moving average price of $25.72 and a two-hundred day moving average price of $32.16. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 49.66 and a beta of 0.63.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Stephens upgraded STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 7th. Finally, Canaccord Genuity Group dropped their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $42.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Granite Investment Partners LLC bought a new stake in shares of STAAR Surgical during the second quarter valued at approximately $17,237,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in STAAR Surgical by 50.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 592,621 shares of the medical instruments supplier’s stock valued at $28,215,000 after purchasing an additional 197,717 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in STAAR Surgical by 411.7% during 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. American Capital Management Inc. increased its holdings in shares of STAAR Surgical by 42.9% in the 3rd quarter. American Capital Management Inc. now owns 512,813 shares of the medical instruments supplier’s stock worth $19,051,000 after purchasing an additional 154,037 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of STAAR Surgical by 25.9% in the second quarter. Dimensional Fund Advisors LP now owns 459,655 shares of the medical instruments supplier’s stock worth $21,884,000 after purchasing an additional 94,422 shares during the last quarter. Institutional investors own 96.70% of the company’s stock.

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.