LENSAR (NASDAQ:LNSR) Issues Earnings Results, Misses Estimates By $0.23 EPS

LENSAR (NASDAQ:LNSR) released its quarterly earnings data on Thursday. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.23), Zacks reports. LENSAR had a negative return on equity of 737.30% and a negative net margin of 87.12%.The company had revenue of $14.32 million for the quarter, compared to analyst estimates of $17.75 million.

LENSAR Trading Down 7.3%

LENSAR stock traded down $0.84 during mid-day trading on Friday, hitting $10.60. The company’s stock had a trading volume of 164,709 shares, compared to its average volume of 55,785. The stock’s fifty day moving average is $12.14 and its two-hundred day moving average is $12.81. The firm has a market capitalization of $126.56 million, a PE ratio of -2.41 and a beta of 0.49. LENSAR has a 1 year low of $6.52 and a 1 year high of $17.31.

Institutional Trading of LENSAR

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in LENSAR by 584.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,674 shares of the company’s stock valued at $62,000 after buying an additional 3,991 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in LENSAR during the second quarter worth about $68,000. New York State Common Retirement Fund acquired a new stake in shares of LENSAR during the second quarter valued at about $105,000. Engineers Gate Manager LP purchased a new stake in shares of LENSAR in the 2nd quarter valued at approximately $168,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of LENSAR by 11.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 15,277 shares of the company’s stock worth $189,000 after acquiring an additional 1,611 shares during the last quarter. 40.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of LENSAR in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, LENSAR presently has a consensus rating of “Reduce” and a consensus price target of $15.00.

About LENSAR

LENSAR, Inc, a commercial-stage medical device company, focuses on designing, developing, and marketing a femtosecond laser system for the treatment of cataracts and the management of pre-existing or surgically induced corneal astigmatism. It offers LENSAR Laser System that incorporates a range of proprietary technologies designed to assist the surgeon in obtaining visual outcomes, efficiency, and reproducibility by providing imaging, procedure planning, design, and precision.