Key Points
- Broadwood Partners bought a total of 1,500,000 STAAR Surgical shares across Nov 19–21 (309,132; 393,382; 797,486) for roughly $41.06 million.
- Despite the insider purchases, STAAR opened at $26.54 and is trading down about 5.2%, and analysts carry a consensus rating of "Reduce" with an average price target of $20.67.
STAAR Surgical Company (NASDAQ:STAA - Get Free Report) major shareholder Broadwood Partners, L.P. bought 309,132 shares of the company's stock in a transaction on Wednesday, November 19th. The stock was bought at an average price of $26.42 per share, with a total value of $8,167,267.44. Following the completion of the acquisition, the insider owned 13,828,623 shares in the company, valued at $365,352,219.66. This represents a 2.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major 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 Friday, November 21st, Broadwood Partners, L.P. purchased 797,486 shares of STAAR Surgical stock. The shares were bought at an average price of $27.86 per share, for a total transaction of $22,217,959.96.
- On Thursday, November 20th, Broadwood Partners, L.P. acquired 393,382 shares of STAAR Surgical stock. The stock was purchased at an average cost of $27.14 per share, with a total value of $10,676,387.48.
STAAR Surgical Trading Down 5.2%
STAAR Surgical stock opened at $26.54 on Tuesday. The company has a 50-day moving average price of $26.54 and a 200 day moving average price of $22.95. STAAR Surgical Company has a 12-month low of $13.50 and a 12-month high of $30.81. The stock has a market cap of $1.32 billion, a P/E ratio of -13.75 and a beta of 0.92.
Analyst Upgrades and Downgrades
STAA has been the subject of a number of recent analyst reports. Piper Sandler restated a "neutral" rating on shares of STAAR Surgical in a report on Monday, October 27th. Weiss Ratings reiterated a "sell (d)" rating on shares of STAAR Surgical in a research report on Wednesday, October 8th. Canaccord Genuity Group restated a "hold" rating and issued a $28.00 target price on shares of STAAR Surgical in a research report on Tuesday, October 21st. Finally, Stifel Nicolaus set a $28.00 price objective on STAAR Surgical and gave the stock a "hold" rating in a research report on Thursday, August 7th. Ten investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, STAAR Surgical has an average rating of "Reduce" and a consensus price target of $20.67.
Check Out Our Latest Research Report on STAAR Surgical
Hedge Funds Weigh In On STAAR Surgical
Several institutional investors have recently bought and sold shares of STAA. Pinnacle Investment Management Ltd purchased a new position in shares of STAAR Surgical in the first quarter valued at approximately $1,155,000. Strs Ohio acquired a new stake in STAAR Surgical during the 1st quarter worth approximately $190,000. Assenagon Asset Management S.A. boosted its position in STAAR Surgical by 213.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 164,088 shares of the medical instruments supplier's stock valued at $2,753,000 after buying an additional 111,686 shares during the period. Caxton Associates LLP acquired a new position in shares of STAAR Surgical in the first quarter worth $1,051,000. Finally, Yunqi Capital Ltd increased its position in shares of STAAR Surgical by 24.4% during the second quarter. Yunqi Capital Ltd now owns 2,411,288 shares of the medical instruments supplier's stock worth $40,461,000 after acquiring an additional 473,699 shares during the period. 96.70% of the stock is owned by institutional investors and hedge funds.
STAAR Surgical Company Profile
(
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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