Broadwood Partners L.P., a more than 10% owner of Staar Surgical (NASDAQ:STAA), purchased 191,075 shares in multiple transactions from December 27 to December 29, at an average price of $47.41 per share. The total purchase consideration stands at $9.06 million.
Staar Surgical manufactures and markets implantable lenses and delivery systems used in ophthalmic surgery.
The total value of STAA stock in Broadwood Partners’ portfolio currently stands at $853.9 million. Interestingly, the hedge fund’s performance track record shows a 59% success rate in 44 transactions over the past year, with an average return of 16.1% per transaction.
Overall, TipRanks’ Insider Trading Activity Tool shows that insider confidence in Staar Surgical stock is currently Positive.
TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Recent Developments
Staar Surgical recently witnessed a change in its leadership. The company’s former CEO, Caren Mason, retired on December 31, 2022, and was replaced by Thomas G. Frinzi. BTIG analyst Ryan Zimmerman found the new CEO announcement to be “abrupt.”
The analyst reiterated a Buy rating on the stock based on its sound cash position. Also, he expects demand for the company’s product to increase in the U.S. as the FDA has raised concerns over the LASIK procedure.
Is STAA a Good Stock to Buy?
On TipRanks, STAA stock has a Strong Buy consensus rating based on eight Buys and one Hold. The average Staar Surgical stock price target of $80.25 implies 65.3% upside potential. The stock is down more than 32% over the past three months.
