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

Key Points

• Wall Street Zen downgraded LENSAR from “Buy” to “Hold.” The broader analyst consensus is also “Hold,” with a consensus price target of $11.33, despite two firms maintaining Buy ratings.
• LNSR opened at $6.75 and has traded between $4.95 and $12.94 over the past year. The company recently beat quarterly expectations, reporting $0.10 in EPS versus a $0.16 loss estimate and revenue of $16.50 million versus $14.65 million expected.
• Institutional investors and hedge funds own approximately 40.15% of LENSAR, with several firms recently initiating or increasing positions.

LENSAR (NASDAQ:LNSR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research firms have also issued reports on LNSR. BTIG Research lifted their price objective 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 restated a "buy" rating and issued a $13.00 target price on shares of LENSAR in a research note on Thursday, August 13th. Loop Capital set a $11.00 price target on shares of LENSAR in a report on Monday. Finally, Weiss Ratings downgraded shares of LENSAR from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, LENSAR presently has an average rating of "Hold" and a consensus target price of $11.33.

LENSAR Stock Performance

LNSR stock opened at $6.75 on Friday. LENSAR has a 1 year low of $4.95 and a 1 year high of $12.94. The firm has a market cap of $82.96 million, a P/E ratio of -20.45 and a beta of 0.95. The stock has a 50-day simple moving average of $7.29 and a 200-day simple moving average of $6.35.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new position in LENSAR in the second quarter worth about $58,000. Engineers Gate Manager LP bought a new stake in LENSAR in the second quarter valued at about $63,000. Sanctuary Advisors LLC bought a new stake in LENSAR in the second quarter valued at about $96,000. Royal Bank of Canada raised its stake 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 buying an additional 8,818 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in LENSAR by 10.0% during the first 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 in the last quarter. 40.15% of the stock is owned by institutional investors and hedge funds.

About LENSAR

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.

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