STAAR Surgical (NASDAQ:STAA) is Broadwood Capital Inc.'s 3rd Largest Position

Broadwood Capital Inc. increased its stake in shares of STAAR Surgical (NASDAQ:STAA - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,848,631 shares of the medical instruments supplier's stock after buying an additional 80,200 shares during the quarter. STAAR Surgical comprises 20.6% of Broadwood Capital Inc.'s holdings, making the stock its 3rd largest position. Broadwood Capital Inc. owned 22.01% of STAAR Surgical worth $263,513,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in STAA. Barclays PLC raised its position in shares of STAAR Surgical by 349.4% during the 3rd quarter. Barclays PLC now owns 91,707 shares of the medical instruments supplier's stock valued at $3,406,000 after buying an additional 71,301 shares during the period. Franklin Resources Inc. raised its position in STAAR Surgical by 80.1% in the third quarter. Franklin Resources Inc. now owns 31,844 shares of the medical instruments supplier's stock valued at $1,183,000 after purchasing an additional 14,162 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of STAAR Surgical by 411.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier's stock worth $7,978,000 after purchasing an additional 172,779 shares during the period. Exchange Traded Concepts LLC increased its position in shares of STAAR Surgical by 21.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 36,374 shares of the medical instruments supplier's stock worth $884,000 after purchasing an additional 6,354 shares during the last quarter. Finally, KBC Group NV raised its holdings in STAAR Surgical by 5,700.9% in the 4th quarter. KBC Group NV now owns 96,585 shares of the medical instruments supplier's stock valued at $2,346,000 after buying an additional 94,920 shares during the period. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. bought 36,532 shares of the stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $15.49 per share, for a total transaction of $565,880.68. Following the purchase, the insider now owns 11,289,437 shares of the company's stock, valued at $174,873,379.13. This trade represents a 0.32 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have acquired 1,742,581 shares of company stock valued at $28,407,543. Insiders own 1.00% of the company's stock.

STAAR Surgical Stock Down 0.9 %

STAA traded down $0.17 on Friday, reaching $19.36. The company had a trading volume of 970,771 shares, compared to its average volume of 808,612. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $49.86. The stock has a market capitalization of $958.82 million, a PE ratio of -47.22 and a beta of 0.65. The stock has a 50-day moving average price of $17.57 and a 200-day moving average price of $21.92.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of STAAR Surgical in a research note on Thursday, February 27th. William Blair lowered STAAR Surgical from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 12th. Canaccord Genuity Group raised their target price on STAAR Surgical from $17.00 to $20.00 and gave the company a "hold" rating in a report on Thursday. Stifel Nicolaus reduced their price target on shares of STAAR Surgical from $38.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Finally, Piper Sandler cut their target price on shares of STAAR Surgical from $40.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $24.63.

STAAR Surgical 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.