Key Points
- Broadwood Partners, L.P. bought 393,382 shares on Nov 20 at $27.14 and 797,486 shares on Nov 21 at $27.86 — a combined purchase of 1,190,868 shares costing about $32.9M and boosting its stake to 14,222,005 shares (≈$386M).
- STAA shares rose 2.4% to $28 on heavy volume; the company has a market cap of ~$1.39B and a negative P/E, while analysts' consensus is "Reduce" with a consensus price target of $20.67, below the current price.
- Institutional ownership is very high (about 96.7%), and several hedge funds — including Broadwood Capital, Armistice Capital and others — have recently increased their positions in STAAR Surgical.
STAAR Surgical Company (NASDAQ:STAA - Get Free Report) major shareholder Broadwood Partners, L.P. purchased 393,382 shares of the business's stock in a transaction on Thursday, November 20th. The shares were bought at an average cost of $27.14 per share, for a total transaction of $10,676,387.48. Following the purchase, the insider owned 14,222,005 shares of the company's stock, valued at $385,985,215.70. This trade represents a 2.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Broadwood Partners, L.P. also recently made the following trade(s):
- On Friday, November 21st, Broadwood Partners, L.P. acquired 797,486 shares of STAAR Surgical stock. The shares were bought at an average cost of $27.86 per share, with a total value of $22,217,959.96.
STAAR Surgical Stock Up 2.4%
Shares of STAA stock traded up $0.65 on Friday, reaching $28.00. 2,018,133 shares of the stock were exchanged, compared to its average volume of 1,165,158. The stock has a market cap of $1.39 billion, a P/E ratio of -14.51 and a beta of 0.92. The firm has a 50 day moving average of $26.56 and a two-hundred day moving average of $22.85. STAAR Surgical Company has a 1-year low of $13.50 and a 1-year high of $30.81.
Analysts Set New Price Targets
A number of research firms have recently commented on STAA. Stifel Nicolaus set a $28.00 price objective on STAAR Surgical and gave the stock a "hold" rating in a report on Thursday, August 7th. Weiss Ratings reissued a "sell (d)" rating on shares of STAAR Surgical in a research report on Wednesday, October 8th. Piper Sandler restated a "neutral" rating on shares of STAAR Surgical in a report on Monday, October 27th. Finally, Canaccord Genuity Group reiterated a "hold" rating and set a $28.00 price objective on shares of STAAR Surgical in a research note on Tuesday, October 21st. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $20.67.
Read Our Latest Analysis on STAAR Surgical
Institutional Trading of STAAR Surgical
Hedge funds have recently made changes to their positions in the company. Broadwood Capital Inc. lifted its position in shares of STAAR Surgical by 8.5% during the second quarter. Broadwood Capital Inc. now owns 13,519,491 shares of the medical instruments supplier's stock worth $226,857,000 after purchasing an additional 1,064,227 shares in the last quarter. Armistice Capital LLC lifted its holdings in STAAR Surgical by 244.0% in the 1st quarter. Armistice Capital LLC now owns 3,000,000 shares of the medical instruments supplier's stock worth $52,890,000 after buying an additional 2,128,000 shares in the last quarter. Soleus Capital Management L.P. lifted its holdings in STAAR Surgical by 16.5% in the 2nd quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier's stock worth $50,084,000 after buying an additional 421,840 shares in the last quarter. Yunqi Capital Ltd boosted its position in STAAR Surgical by 3.7% in the 3rd quarter. Yunqi Capital Ltd now owns 2,500,061 shares of the medical instruments supplier's stock valued at $67,177,000 after buying an additional 88,773 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. grew its stake in shares of STAAR Surgical by 11.6% during the second quarter. Resona Asset Management Co. Ltd. now owns 2,421,836 shares of the medical instruments supplier's stock valued at $40,746,000 after acquiring an additional 252,218 shares in the last quarter. Hedge funds and other institutional investors own 96.70% of the company's stock.
About STAAR Surgical
(
Get Free Report)
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.
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