LENSAR (NASDAQ:LNSR) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of LENSAR (NASDAQ:LNSR) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other research firms have also issued reports on LNSR. Lake Street Capital raised LENSAR from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday, April 1st. Weiss Ratings raised LENSAR from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, BTIG Research raised LENSAR from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a report on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, LENSAR presently has a consensus rating of “Hold” and an average price target of $10.00.

LENSAR Stock Down 5.0%

LNSR stock opened at $5.54 on Friday. The firm has a market cap of $67.03 million, a PE ratio of -9.55 and a beta of 0.84. The business has a 50 day moving average of $6.64 and a 200-day moving average of $9.85. LENSAR has a 12-month low of $5.06 and a 12-month high of $14.21.

LENSAR (NASDAQ:LNSR) last released its earnings results on Friday, May 8th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $1.38. The company had revenue of $13.43 million during the quarter, compared to analyst estimates of $13.40 million. LENSAR had a negative return on equity of 183.19% and a net margin of 50.94%.

Hedge Funds Weigh In On LENSAR

Several institutional investors have recently bought and sold shares of LNSR. BNP Paribas Financial Markets lifted its stake in LENSAR by 129.0% in the third quarter. BNP Paribas Financial Markets now owns 2,008 shares of the company’s stock valued at $25,000 after purchasing an additional 1,131 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in LENSAR by 584.3% in the second quarter. JPMorgan Chase & Co. now owns 4,674 shares of the company’s stock valued at $62,000 after purchasing an additional 3,991 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in LENSAR in the second quarter valued at approximately $68,000. New York State Common Retirement Fund purchased a new position in LENSAR in the second quarter valued at approximately $105,000. Finally, Wells Fargo & Company MN lifted its stake in LENSAR by 69.4% in the fourth quarter. Wells Fargo & Company MN now owns 10,734 shares of the company’s stock valued at $125,000 after purchasing an additional 4,398 shares during the last quarter. Hedge funds and other institutional investors own 40.15% of the company’s stock.

About LENSAR

LENSAR, Inc, headquartered in Orlando, Florida, is a medical technology company specializing in advanced laser systems for ophthalmic surgery. Its flagship product, the LENSAR Laser System, combines proprietary three-dimensional imaging with precision-guided femtosecond laser delivery to perform critical steps in cataract procedures, including capsulotomy creation, lens fragmentation and corneal incisions.

Founded in 2005, LENSAR has concentrated its research and development efforts on enhancing surgical accuracy and patient outcomes in cataract treatment.