In a recent transaction, Broadwood Partners L.P. has increased its holdings in STAAR Surgical Co (NASDAQ:STAA), an ophthalmic goods manufacturer. The purchase was made at a price of $42.56 per share, signaling confidence from the investment firm in the future of STAAR Surgical.
Broadwood Partners, along with its general partner Broadwood Capital Inc., and Neal C. Bradsher, the president of Broadwood Capital, are reported to have made this transaction. The details, as reported, indicate that the shares acquired may be deemed indirectly beneficially owned by Broadwood Capital Inc. and Neal C. Bradsher, due to their respective positions within Broadwood Partners.
The total amount invested in this transaction was $42, with the shares being directly owned by Broadwood Partners L.P. The transaction does not alter the overall holdings significantly but does reflect ongoing investment activities by the firm in STAAR Surgical.
The reporting footnotes clarify that each reporting person disclaims beneficial ownership of the reported securities except to the extent of their pecuniary interest therein. Furthermore, Neal C. Bradsher directly owns an additional 25,900 shares of STAAR Surgical.
Investors often monitor these transactions as they can provide insights into how major stakeholders view the company's stock and its market position. The filings with the SEC provide transparency and ensure that the public is informed about significant changes in ownership of a company's shares.
The signatures of Broadwood Partners, L.P., Broadwood Capital, Inc., and Neal C. Bradsher, affixed on May 13, 2024, confirm the completion of this transaction.
InvestingPro Insights
STAAR Surgical Co's recent share acquisition by Broadwood Partners L.P. at $42.56 per share highlights the investment firm's belief in the company's potential. As investors and stakeholders evaluate this move, some key financial metrics and expert insights from InvestingPro can provide a deeper understanding of STAAR Surgical's current market position.
According to InvestingPro data, STAAR Surgical has a market capitalization of $2.14 billion, which positions it as a mid-sized player in the industry. The company is currently trading at a high earnings multiple, with a P/E ratio of 139.01 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 130.74. This indicates that investors may expect high growth or have a strong belief in the company's future profitability.
STAAR Surgical's revenue has grown by 10.7% over the last twelve months as of Q1 2024, with a gross profit margin of 78.51%, showcasing the company's ability to maintain profitability. Despite recent market volatility, with the stock experiencing a 7.89% dip over the last week, STAAR Surgical has demonstrated resilience with a strong return of 43.61% over the last three months.
InvestingPro Tips suggest that STAAR Surgical holds more cash than debt on its balance sheet, which is a sign of financial stability, and its liquid assets exceed short-term obligations, indicating good liquidity management. However, analysts have revised their earnings downwards for the upcoming period, which could be a point of concern for potential investors. Additionally, the company is trading at a high EBITDA valuation multiple and does not pay a dividend to shareholders, which may influence investment decisions for those seeking regular income.
For investors seeking more detailed analysis and additional InvestingPro Tips, there are 10 more insights available at InvestingPro's dedicated page for STAAR Surgical. To access these valuable insights and make more informed investment decisions, use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With the next earnings date set for July 31, 2024, and analysts predicting the company will be profitable this year, it will be crucial for investors to monitor STAAR Surgical's performance closely in the upcoming months.
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