STAAR Surgical (NASDAQ:STAA) Major Shareholder Buys 259,316 Shares

STAAR Surgical (NASDAQ:STAA - Get Free Report) major shareholder Broadwood Partners, L.P. bought 259,316 shares of STAAR Surgical stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $17.05 per share, for a total transaction of $4,421,337.80. Following the completion of the acquisition, the insider now directly owns 11,548,753 shares in the company, valued at approximately $196,906,238.65. The trade was a 2.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 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 Monday, March 3rd, Broadwood Partners, L.P. bought 249,503 shares of STAAR Surgical stock. The shares were bought at an average cost of $16.64 per share, with a total value of $4,151,729.92.
• On Friday, February 14th, Broadwood Partners, L.P. purchased 36,532 shares of STAAR Surgical stock. The stock was bought at an average price of $15.49 per share, for a total transaction of $565,880.68.
• On Wednesday, February 12th, Broadwood Partners, L.P. acquired 259,616 shares of STAAR Surgical stock. The shares were bought at an average price of $14.96 per share, with a total value of $3,883,855.36.
• On Thursday, January 16th, Broadwood Partners, L.P. bought 8,221 shares of STAAR Surgical stock. The stock was bought at an average price of $21.50 per share, for a total transaction of $176,751.50.
• On Tuesday, January 14th, Broadwood Partners, L.P. bought 21,155 shares of STAAR Surgical stock. The shares were purchased at an average cost of $21.46 per share, with a total value of $453,986.30.
• On Wednesday, December 18th, Broadwood Partners, L.P. purchased 23,000 shares of STAAR Surgical stock. The stock was 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. acquired 53,500 shares of STAAR Surgical stock. The shares were purchased at an average price of $24.24 per share, with a total value of $1,296,840.00.

STAAR Surgical Stock Performance

Shares of STAAR Surgical stock traded up $0.42 during trading hours on Friday, reaching $18.34. The company's stock had a trading volume of 1,300,501 shares, compared to its average volume of 1,109,182. The company has a market capitalization of $904.62 million, a P/E ratio of -44.73 and a beta of 0.66. The stock's fifty day simple moving average is $21.14 and its two-hundred day simple moving average is $26.91. STAAR Surgical has a one year low of $13.50 and a one year high of $52.68.

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Analyst Upgrades and Downgrades

A number of brokerages have weighed in on STAA. Jefferies Financial Group downgraded STAAR Surgical from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. StockNews.com cut STAAR Surgical from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. BTIG Research lowered STAAR Surgical from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 12th. Canaccord Genuity Group cut their price target on STAAR Surgical from $28.00 to $17.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of STAAR Surgical in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, STAAR Surgical has an average rating of "Hold" and an average price target of $26.86.

Institutional Trading of STAAR Surgical

Several institutional investors and hedge funds have recently modified their holdings of STAA. Van ECK Associates Corp raised its stake in shares of STAAR Surgical by 12.7% during the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier's stock worth $129,000 after purchasing an additional 393 shares during the period. Creative Planning grew its position in STAAR Surgical by 8.0% during the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier's stock valued at $205,000 after buying an additional 408 shares during the period. LMR Partners LLP increased its holdings in STAAR Surgical by 2.2% during the third quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier's stock worth $1,290,000 after buying an additional 743 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in STAAR Surgical in the third quarter worth about $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in STAAR Surgical by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,123 shares of the medical instruments supplier's stock worth $683,000 after acquiring an additional 1,044 shares during the period. 96.70% of the stock is owned by hedge funds and other 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.