STAAR Surgical (NASDAQ:STAA) Trading Up 3.4% on Insider Buying Activity

STAAR Surgical (NASDAQ:STAA - Get Free Report)'s share price shot up 3.4% on Tuesday after an insider bought additional shares in the company. The stock traded as high as $17.29 and last traded at $17.03. 182,642 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,087,530 shares. The stock had previously closed at $16.47.

Specifically, major shareholder Broadwood Partners, L.P. purchased 249,503 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $16.64 per share, for a total transaction of $4,151,729.92. Following the completion of the purchase, the insider now owns 11,953,198 shares of the company's stock, valued at approximately $198,901,214.72. The trade was a 2.13 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Broadwood Partners, L.P. acquired 259,316 shares of the company's stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $17.05 per share, with a total value of $4,421,337.80. Following the purchase, the insider now directly owns 11,548,753 shares in the company, valued at approximately $196,906,238.65. This represents a 2.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

Several research analysts have recently commented on STAA shares. William Blair cut shares of STAAR Surgical from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 12th. BTIG Research lowered STAAR Surgical from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 12th. Jefferies Financial Group downgraded STAAR Surgical from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Stephens reissued an "equal weight" rating and set a $28.00 target price on shares of STAAR Surgical in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group dropped their price target on STAAR Surgical from $28.00 to $17.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, STAAR Surgical presently has an average rating of "Hold" and an average target price of $26.86.

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STAAR Surgical Price Performance

The business's fifty day moving average price is $21.14 and its 200 day moving average price is $26.91. The stock has a market cap of $904.62 million, a P/E ratio of -44.73 and a beta of 0.66.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors and hedge funds have recently added to or reduced their stakes in STAA. Geode Capital Management LLC lifted its stake in shares of STAAR Surgical by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier's stock valued at $43,641,000 after acquiring an additional 31,212 shares during the last quarter. HighTower Advisors LLC bought a new position in STAAR Surgical in the third quarter valued at about $336,000. Polar Asset Management Partners Inc. boosted its stake in shares of STAAR Surgical by 44.3% during the third quarter. Polar Asset Management Partners Inc. now owns 168,800 shares of the medical instruments supplier's stock valued at $6,271,000 after purchasing an additional 51,800 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of STAAR Surgical by 411.7% during the third quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier's stock valued at $7,978,000 after purchasing an additional 172,779 shares in the last quarter. Finally, Defender Capital LLC. grew its holdings in shares of STAAR Surgical by 3.5% during the fourth quarter. Defender Capital LLC. now owns 701,567 shares of the medical instruments supplier's stock worth $17,041,000 after purchasing an additional 23,950 shares during the last quarter. Institutional investors own 96.70% of the company's stock.

STAAR Surgical Company Profile

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.