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Broadwood Partners, L.P., a significant shareholder of Staar Surgical Co. (NASDAQ:STAA), has reported a series of stock purchases totaling approximately $11.28 million. The transactions, disclosed in a recent SEC filing, took place between February 27 and March 3, 2025. The insider buying comes as STAA shares have declined nearly 48% over the past six months, with the company currently valued at $814 million.
The acquisitions involved several tranches of common stock, with purchase prices ranging from $16.00 to $17.99 per share. As a result of these transactions, Broadwood Partners now holds 11,953,198 shares of Staar Surgical, reflecting its continued confidence in the ophthalmic goods company. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 5.23 and holds more cash than debt on its balance sheet.
Staar Surgical, known for its innovative vision correction products, is headquartered in Monrovia, California. The company has been a focal point for investors looking to capitalize on advancements in ophthalmic technology. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with 8 additional key insights available to subscribers.
In other recent news, STAAR Surgical reported a significant miss in its Q4 2024 earnings, with earnings per share (EPS) at -$0.69 compared to the forecasted -$0.03, and revenue at $48.95 million against an expected $77.2 million. This earnings miss led to a sharp decline in market confidence, and the company’s stock fell 33.59% in after-hours trading. Jefferies downgraded STAAR Surgical’s stock rating, lowering the price target to $18 from $60, reflecting concerns about the company’s near-term revenue prospects and reliance on the Chinese market. Meanwhile, Canaccord Genuity adjusted its price target for STAAR Surgical to $17 from $28, maintaining a Hold rating, citing potential risks in the Chinese market that have been factored into their projections.
Stifel also revised its price target for the company to $20 from $38, keeping a Buy rating, while noting challenges due to increased inventory levels with distributors in China. The company ended FY2024 with a net loss of $20.2 million, contrasting with a net income of $21.3 million in the previous year. Despite these challenges, STAAR Surgical maintains a strong cash position, ending the year with $230.5 million. The company is focusing on its EVO ICL (TASE:ICL) technology and plans to launch EVO Plus in China, anticipating a recovery in the latter half of 2025. Analysts from Stifel expressed a positive long-term outlook, citing the company’s differentiated technology and strong balance sheet as factors that position it to gain market share despite current challenges.
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