LENSAR (NASDAQ:LNSR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of LENSAR (NASDAQ:LNSR) from a hold rating to a buy rating in a research note released on Sunday.

LNSR has been the topic of a number of other research reports. BTIG Research raised their price target on LENSAR from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of LENSAR in a research report on Friday, August 7th. Finally, Lake Street Capital reiterated a “buy” rating and set a $13.00 price objective on shares of LENSAR in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.50.

LENSAR Price Performance

Shares of NASDAQ:LNSR opened at $8.94 on Friday. The company has a market capitalization of $109.87 million, a P/E ratio of -27.09 and a beta of 0.89. LENSAR has a 1 year low of $4.95 and a 1 year high of $12.94. The business’s 50 day simple moving average is $6.29 and its 200 day simple moving average is $7.15.

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

Institutional Investors Weigh In On LENSAR

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in shares of LENSAR by 129.0% in the 3rd 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. Bank of New York Mellon Corp acquired a new stake in LENSAR in the second quarter valued at about $58,000. JPMorgan Chase & Co. boosted 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 buying an additional 3,991 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in LENSAR in the second quarter valued at about $68,000. Finally, Sanctuary Advisors LLC bought a new position in LENSAR in the second quarter valued at about $96,000. 40.15% of the stock is currently owned by institutional investors.

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.