LENSAR (NASDAQ:LNSR) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of LENSAR (NASDAQ:LNSR) from a buy rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

Several other research analysts have also commented on LNSR. Loop Capital set a $11.00 price objective on shares of LENSAR in a research note on Monday, September 28th. BTIG Research raised their target price on shares of LENSAR from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Lake Street Capital reaffirmed a “buy” rating and issued a $13.00 price target on shares of LENSAR in a report on Thursday, August 13th. Finally, Weiss Ratings downgraded LENSAR from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.33.

LENSAR Price Performance

LNSR opened at $6.75 on Friday. The business’s 50-day moving average is $7.29 and its two-hundred day moving average is $6.35. LENSAR has a 1 year low of $4.95 and a 1 year high of $12.94. The firm has a market capitalization of $82.96 million, a PE ratio of -20.45 and a beta of 0.95.

LENSAR (NASDAQ:LNSR) last announced its earnings results on Thursday, August 13th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.26. LENSAR had a net margin of 57.57% and a negative return on equity of 529.08%. The business had revenue of $16.50 million during the quarter, compared to the consensus estimate of $14.65 million.

Institutional Trading of LENSAR

A number of institutional investors have recently bought and sold shares of LNSR. Bank of New York Mellon Corp purchased a new stake in LENSAR during the 2nd quarter worth approximately $58,000. Engineers Gate Manager LP purchased a new position in shares of LENSAR in the second quarter worth about $63,000. Sanctuary Advisors LLC acquired a new stake in LENSAR during the 2nd quarter valued at approximately $96,000. Royal Bank of Canada lifted its position in LENSAR by 78.2% during the first quarter. Royal Bank of Canada now owns 20,095 shares of the company’s stock valued at $120,000 after purchasing an additional 8,818 shares during the period. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of LENSAR by 10.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 33,000 shares of the company’s stock valued at $197,000 after buying an additional 3,000 shares during the period. 40.15% of the stock is currently owned by institutional investors and hedge funds.

LENSAR Company Profile

LENSAR, Inc is a medical technology company focused on ophthalmic laser systems used in cataract surgery. The company develops femtosecond laser technology designed to assist surgeons with key steps of the procedure, including corneal incisions, lens fragmentation and astigmatism management.

Its product portfolio includes the LENSAR Laser System, an image-guided platform that uses three-dimensional imaging and software-based treatment planning. The system’s capabilities include the company’s Streamline software and IntelliAxis technology, which are intended to support customized treatment planning and the placement of corneal incisions.

LENSAR has marketed its systems to ophthalmic surgeons and health-care providers in the United States and international markets, supported by direct sales and distribution arrangements.