STAAR Surgical (NASDAQ:STAA) Director Acquires $5,425,707.84 in Stock

STAAR Surgical Company (NASDAQ:STAA) Director Broadwood Partners, L.P. acquired 299,432 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was acquired at an average price of $18.12 per share, for a total transaction of $5,425,707.84. Following the purchase, the director directly owned 15,807,825 shares of the company’s stock, valued at approximately $286,437,789. This trade represents a 1.93% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, March 13th, Broadwood Partners, L.P. bought 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 Wednesday, March 11th, Broadwood Partners, L.P. bought 54,764 shares of STAAR Surgical stock. The stock was bought at an average price of $17.52 per share, for a total transaction of $959,465.28.
• On Friday, January 9th, Broadwood Partners, L.P. bought 27,485 shares of STAAR Surgical stock. The shares were acquired at an average cost of $22.05 per share, with a total value of $606,044.25.
• On Thursday, January 8th, Broadwood Partners, L.P. acquired 3,240 shares of STAAR Surgical stock. The shares were bought at an average price of $21.94 per share, for a total transaction of $71,085.60.
• On Wednesday, January 7th, Broadwood Partners, L.P. purchased 66,467 shares of STAAR Surgical stock. The stock was purchased at an average cost of $22.00 per share, with a total value of $1,462,274.00.
• On Tuesday, January 6th, Broadwood Partners, L.P. bought 336,946 shares of STAAR Surgical stock. The stock was bought at an average cost of $21.62 per share, for a total transaction 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. The company has a market cap of $932.77 million, a P/E ratio of -11.56 and a beta of 1.05. The business’s 50-day moving average price is $19.16 and its 200-day moving average price is $23.71. STAAR Surgical Company has a fifty-two week low of $14.69 and a fifty-two week high of $30.81.

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

Analyst Ratings Changes

A number of research analysts have commented on STAA shares. Jefferies Financial Group dropped their price objective on shares of STAAR Surgical from $28.00 to $21.50 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Wedbush assumed coverage on shares of STAAR Surgical in a report on Tuesday, February 3rd. They issued a “neutral” rating and a $26.00 target price for the company. Stifel Nicolaus cut their price target on STAAR Surgical from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, March 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of STAAR Surgical in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $18.94.

Hedge Funds Weigh In On STAAR Surgical

Several large investors have recently added to or reduced their stakes in STAA. Amalgamated Bank boosted its stake in STAAR Surgical by 3.6% during the 3rd quarter. Amalgamated Bank now owns 14,609 shares of the medical instruments supplier’s stock valued at $393,000 after purchasing an additional 514 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of 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 valued at $39,000 after purchasing an additional 614 shares in the last quarter. GAMMA Investing LLC grew its position in STAAR Surgical by 61.4% in the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock worth $50,000 after buying 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, Invesco Ltd. increased its position in shares of STAAR Surgical by 0.6% in the third quarter. Invesco Ltd. now owns 150,896 shares of the medical instruments supplier’s stock worth $4,055,000 after acquiring an additional 956 shares in the last quarter. 96.70% of the stock is currently 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. 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.