Investing in STAAR Surgical Company [STAA]: What You Must Know


In a filing, STAAR Surgical Company revealed its 10% Owner BROADWOOD PARTNERS, L.P. acquired Company’s shares for reported $1.87 million on Dec 29. In the deal valued at $47.93 per share,39,090 shares were bought. As a result of this transaction, BROADWOOD PARTNERS, L.P. now holds 8,783,082 shares worth roughly $ 526.46 million.

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Then, BROADWOOD PARTNERS, L.P. bought 100,000 shares, generating $4,697,610 in total proceeds. Upon buying the shares at $46.98, the 10% Owner now owns 8,743,992 shares.

Before that, BROADWOOD PARTNERS, L.P. bought 51,985 shares. STAAR Surgical Company shares valued at $2,490,534 were divested by the 10% Owner at a price of $47.91 per share. As a result of the transaction, BROADWOOD PARTNERS, L.P. now holds 8,643,992 shares, worth roughly $518.12 million.

BTIG Research downgraded its STAAR Surgical Company [STAA] rating to a Neutral from a a Buy in a research note published on Friday. A number of analysts have revised their coverage, including BTIG Research’s analysts, who remained covering the stock and in late December has reiterated a ‘”a Buy”‘ rating for it. Stifel began covering STAA with “Hold” recommendation on December 08, 2022. Sidoti revised its rating on November 07, 2022. It rated STAA as “a Buy” which previously was an “a Neutral”.

Price Performance Review of STAA

On Friday, STAAR Surgical Company [NASDAQ:STAA] saw its stock jump 2.50% to $59.94. On the same session, the stock had its day’s lowest price of $58.89, but rose to a high of $61.46. Over the last five days, the stock has gained 4.55%. STAAR Surgical Company shares have risen nearly 23.49% since the year began. Nevertheless, the stocks have fallen -27.17% over the past one year. While a 52-week high of $112.27 was reached on 02/02/23, a 52-week low of $46.35 was recorded on 01/03/23. SMA at 50 days reached $64.15, while 200 days put it at $71.45. A total of 0.67 million shares were traded, compared to the trading of 0.51 million shares in the previous session.

Levels Of Support And Resistance For STAA Stock

The 24-hour chart illustrates a support level at 58.73, which if violated will result in even more drops to 57.53. On the upside, there is a resistance level at 61.30. A further resistance level may holdings at 62.67. The Relative Strength Index (RSI) on the 14-day chart is 41.47, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.77, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.76%. Stochastics %K at 18.95% indicates the stock is a buying.

How much short interest is there in STAAR Surgical Company?

A steep rise in short interest was recorded in STAAR Surgical Company stocks on Jan 12, 2023, growing by 1.62 million shares to a total of 4.74 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 3.12 million shares. There was a rise of 34.18%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 20.40% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.51.

STAAR Surgical Company [STAA] – Who Are The Largest Shareholders?

In filings from Broadwood Capital, Inc., it is revealed that the company now owns 8,783,082 shares, or roughly 18.22% of the outstanding STAA shares. In other words, the investor’s shares have risen by 191,075 from its previous 13-F filing of 8592007.0. Additionally, Baillie Gifford & Co. increased 2.20% of its stake after which the total value it holdings stand at $369,714,171, while The Vanguard Group, Inc. added 1.70% of its stake to hold $365.74 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 105,622 shares of STAAR Surgical Company, while SSgA Funds Management, Inc. bought 57,794 shares. At present, Palo Alto Investors LP is holding 1,240,077 shares valued at $87.49 million. Geneva Capital Management LLC owned 940,457 shares of the company at the time of its most recent 13F filing, worth $66.35 million.

According to FactSet, STAAR Surgical Company’s share price will average $79.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 39.36 percent from its previous closing price of $58.48. Analysts expect STAAR Surgical Company stock to reach the higher price of $90.00, while the lowest price estimate is $60.00. However, 11 analysts have rated STAA stock as an Overweight in their predictions for 2023.


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