Insider Buying: STAAR Surgical (NASDAQ:STAA) Major Shareholder Purchases 53,500 Shares of Stock

STAAR Surgical (NASDAQ:STAA) major shareholder Broadwood Partners, L.P. purchased 53,500 shares of STAAR Surgical stock in a transaction on Monday, December 16th. The stock was bought at an average price of $24.24 per share, with a total value of $1,296,840.00. Following the transaction, the insider now owns 10,821,931 shares of the company’s stock, valued at approximately $262,323,607.44. This represents a 0.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Broadwood Partners, L.P. also recently made the following trade(s):

• On Wednesday, December 18th, Broadwood Partners, L.P. acquired 23,000 shares of STAAR Surgical stock. The shares were bought at an average cost of $24.33 per share, for a total transaction of $559,590.00.

STAAR Surgical Stock Down 4.6 %

STAAR Surgical stock traded down $1.18 during midday trading on Wednesday, reaching $24.26. The stock had a trading volume of 556,037 shares, compared to its average volume of 702,254. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 55.14 and a beta of 0.59. STAAR Surgical has a 52-week low of $23.72 and a 52-week high of $52.68. The company has a fifty day moving average of $28.43 and a 200 day moving average of $34.63.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on STAA shares. Canaccord Genuity Group decreased their target price on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, December 9th. Stephens upgraded shares of STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st. Finally, Stifel Nicolaus reduced their price target on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.83.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI bought a new position in shares of STAAR Surgical during the 3rd quarter worth $37,000. Quarry LP bought a new position in STAAR Surgical during the 3rd quarter worth about $50,000. Quest Partners LLC purchased a new position in STAAR Surgical during the 3rd quarter valued at about $128,000. Canada Pension Plan Investment Board bought a new position in shares of STAAR Surgical during the second quarter valued at approximately $129,000. Finally, Van ECK Associates Corp increased its holdings in STAAR Surgical by 12.7% during the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after buying an additional 393 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.