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Broadwood Partners, L.P., a significant stakeholder in Staar Surgical Co. (NASDAQ:STAA), has increased its holdings in the company with a series of transactions reported in a recent SEC filing. The investment firm acquired a total of 844,220 shares of Staar Surgical's common stock between April 3 and April 7, 2025. The shares were purchased at prices ranging from $15.40 to $17.485 per share, amounting to a total investment of approximately $13.6 million. The purchases come as the stock trades near its InvestingPro Fair Value, despite experiencing a significant 48.7% decline over the past six months.
The purchases were made in multiple transactions over several days, with the largest acquisition occurring on April 4, when Broadwood Partners bought 492,631 shares at an average price of $15.9042. The filing also indicates that the shares are directly owned by Broadwood Partners and may be indirectly beneficially owned by Broadwood Capital, Inc. and Neal C. Bradsher, the president of Broadwood Capital. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet and a healthy current ratio of 5.23.
Following these transactions, Broadwood Partners now holds a total of 13,332,264 shares of Staar Surgical. The acquisitions reflect Broadwood's continued confidence in the ophthalmic goods company, which specializes in implantable lenses for the eye. While the company currently faces profitability challenges, InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report to better understand the investment potential.
In other recent news, STAAR Surgical reported fourth-quarter 2024 results that fell short of expectations, which has led to adjustments in analyst ratings and price targets. Canaccord Genuity reduced its price target for STAAR Surgical to $17, maintaining a Hold rating, while Jefferies downgraded the stock and slashed the price target to $18 from $60 due to concerns about revenue prospects and the uncertain Chinese market. Stifel also lowered its price target to $20 from $38 but retained a Buy rating, citing challenges in the Chinese market and increased inventory levels with distributors.
STAAR Surgical announced several executive changes, including the resignation of CFO Patrick Williams and the appointment of Deborah Andrews as Interim CFO. Warren Foust was promoted to President and COO, and Magda Michna to Chief Development Officer. Piper Sandler maintained a Neutral rating with a $16 target, noting the leadership changes aim to ensure stability.
BTIG also kept a Neutral rating, highlighting the management's focus on cost-saving measures without compromising revenue growth. Despite these efforts, the absence of reiterated fiscal year 2025 guidance has introduced uncertainty among investors. Analysts are closely monitoring STAAR Surgical's transition and market conditions, especially in China, which remains a critical factor in the company's recovery strategy.
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