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 the company’s stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $24.24 per share, for a total transaction of $1,296,840.00. Following the completion of the transaction, the insider now owns 10,821,931 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

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

STAAR Surgical Stock Performance

Shares of STAA stock traded down $1.18 on Wednesday, reaching $24.26. The stock had a trading volume of 556,037 shares, compared to its average volume of 702,254. STAAR Surgical has a 1 year low of $23.72 and a 1 year high of $52.68. The stock has a market cap of $1.20 billion, a P/E ratio of 55.14 and a beta of 0.59. The company has a 50 day simple moving average of $28.43 and a 200 day simple moving average of $34.63.

Wall Street Analyst Weigh In

STAA has been the subject of several analyst reports. Stephens raised shares of STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Stifel Nicolaus reduced their target price on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a report on Monday, August 26th. Canaccord Genuity Group decreased their price target on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $42.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Arcadia Investment Management Corp MI purchased a new stake in shares of STAAR Surgical during the 3rd quarter valued at about $37,000. Quarry LP bought a new stake in STAAR Surgical during the third quarter valued at approximately $50,000. Quest Partners LLC bought a new stake in STAAR Surgical during the third quarter valued at approximately $128,000. Canada Pension Plan Investment Board purchased a new stake in STAAR Surgical during the second quarter valued at approximately $129,000. Finally, Van ECK Associates Corp raised its position in STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after acquiring 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.