STAAR Surgical (NASDAQ:STAA) Trading 3.4% Higher After Insider Buying Activity

STAAR Surgical (NASDAQ:STAA) traded up 3.4% on Tuesday following insider buying activity. The company traded as high as $17.29 and last traded at $17.03. 182,642 shares changed hands during 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. acquired 249,503 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $16.64 per share, for a total transaction of $4,151,729.92. Following the transaction, the insider now directly owns 11,953,198 shares in the company, valued at approximately $198,901,214.72. This represents a 2.13 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Broadwood Partners, L.P. purchased 259,316 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $17.05 per share, for a total transaction of $4,421,337.80. Following the completion of the purchase, the insider now owns 11,548,753 shares of the company’s stock, 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.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. BTIG Research cut shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday, February 12th. Piper Sandler lowered their target price on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. William Blair downgraded shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Thursday, February 27th. Finally, Stephens restated an “equal weight” rating and issued a $28.00 target price on shares of STAAR Surgical in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.86.

STAAR Surgical Price Performance

The business’s 50-day simple moving average is $21.41 and its two-hundred day simple moving average is $27.04. The stock has a market capitalization of $875.52 million, a price-to-earnings ratio of -43.29 and a beta of 0.62.

Institutional Trading of STAAR Surgical

Several large investors have recently added to or reduced their stakes in STAA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in STAAR Surgical by 13.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 110,506 shares of the medical instruments supplier’s stock valued at $2,684,000 after acquiring an additional 13,075 shares in the last quarter. Voloridge Investment Management LLC boosted its stake in shares of STAAR Surgical by 9.4% in the fourth quarter. Voloridge Investment Management LLC now owns 296,256 shares of the medical instruments supplier’s stock valued at $7,196,000 after purchasing an additional 25,350 shares during the period. Squarepoint Ops LLC grew its holdings in STAAR Surgical by 81.3% during the 4th quarter. Squarepoint Ops LLC now owns 117,074 shares of the medical instruments supplier’s stock valued at $2,844,000 after purchasing an additional 52,488 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in STAAR Surgical during the 4th quarter worth $502,000. Finally, Raiffeisen Bank International AG acquired a new position in STAAR Surgical in the 4th quarter worth $1,926,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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.