Key Points
- Broadwood Partners bought 54,764 shares of STAAR Surgical on March 11 at an average price of $17.52 for about $959,465, bringing its direct stake to 15,508,393 shares (≈$271.7M) — a 0.35% increase in the position.
- The firm made multiple additional large purchases in early March and January (including 316,017 shares on Mar 13 at $18.61 and 299,432 on Mar 12 at $18.12), signaling continued insider accumulation worth several million dollars.
- STAAR reported a weak quarter (EPS -$0.37 vs. $0.14 expected; revenue $57.8M vs. $75.54M expected) and has seen analyst price-target cuts, leaving a MarketBeat consensus rating of "Reduce" and a $18.94 target.
STAAR Surgical Company (NASDAQ:STAA - Get Free Report) Director Broadwood Partners, L.P. purchased 54,764 shares of the stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average price of $17.52 per share, with a total value of $959,465.28. Following the completion of the acquisition, the director directly owned 15,508,393 shares in the company, valued at approximately $271,707,045.36. The trade was a 0.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Broadwood Partners, L.P. also recently made the following trade(s):
- On Friday, March 13th, Broadwood Partners, L.P. acquired 316,017 shares of STAAR Surgical stock. The shares were purchased at an average price of $18.61 per share, for a total transaction of $5,881,076.37.
- On Thursday, March 12th, Broadwood Partners, L.P. acquired 299,432 shares of STAAR Surgical stock. The stock was acquired at an average cost of $18.12 per share, with a total value of $5,425,707.84.
- On Friday, January 9th, Broadwood Partners, L.P. bought 27,485 shares of STAAR Surgical stock. The shares were acquired at an average price of $22.05 per share, with a total value of $606,044.25.
- On Thursday, January 8th, Broadwood Partners, L.P. bought 3,240 shares of STAAR Surgical stock. The shares were acquired at an average cost 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 acquired at an average price of $22.00 per share, for a total transaction of $1,462,274.00.
- On Tuesday, January 6th, Broadwood Partners, L.P. purchased 336,946 shares of STAAR Surgical stock. The stock was acquired at an average cost of $21.62 per share, with a total value of $7,284,772.52.
STAAR Surgical Stock Performance
NASDAQ STAA opened at $18.84 on Friday. STAAR Surgical Company has a one year low of $14.69 and a one year high of $30.81. The company has a 50-day simple moving average of $19.16 and a 200-day simple moving average of $23.71. The firm has a market capitalization of $932.77 million, a PE ratio of -11.56 and a beta of 1.05.
STAAR Surgical (NASDAQ:STAA - Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.51). STAAR Surgical had a negative return on equity of 10.03% and a negative net margin of 33.60%.The business had revenue of $57.80 million for the quarter, compared to analyst estimates of $75.54 million. The company's revenue for the quarter was up 18.0% compared to the same quarter last year. Equities analysts forecast that STAAR Surgical Company will post -1.14 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages recently issued reports on STAA. Canaccord Genuity Group cut their price target on STAAR Surgical from $30.75 to $22.00 and set a "hold" rating on the stock in a report on Thursday, January 15th. Stifel Nicolaus lowered their price objective 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. Wells Fargo & Company cut their target price on STAAR Surgical from $30.75 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 5th. Needham & Company LLC reissued a "hold" rating on shares of STAAR Surgical in a report on Tuesday, January 6th. Finally, Morgan Stanley assumed coverage on shares of STAAR Surgical in a research report on Friday, January 16th. They set an "underweight" rating and a $13.00 price target for the company. One 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's stock. According to MarketBeat.com, STAAR Surgical has a consensus rating of "Reduce" and a consensus target price of $18.94.
Read Our Latest Analysis on STAAR Surgical
Institutional Trading of STAAR Surgical
Several hedge funds have recently added to or reduced their stakes in STAA. Broadwood Capital Inc. boosted its position in STAAR Surgical by 11.1% during the 4th quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier's stock worth $346,800,000 after acquiring an additional 1,500,000 shares during the period. Soleus Capital Management L.P. increased its holdings in shares of STAAR Surgical by 16.5% during the second quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier's stock valued at $50,084,000 after purchasing an additional 421,840 shares during the period. Yunqi Capital Ltd raised its stake in shares of STAAR Surgical by 0.3% during the fourth quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier's stock valued at $57,890,000 after purchasing an additional 7,069 shares in the last quarter. Magnetar Financial LLC raised its stake in shares of STAAR Surgical by 105.3% during the fourth quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier's stock valued at $57,087,000 after purchasing an additional 1,268,019 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in STAAR Surgical by 112.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier's stock worth $47,952,000 after purchasing an additional 1,100,484 shares during the period. Institutional investors own 96.70% of the company's stock.
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. 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.
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