LENSAR (NASDAQ:LNSR) Stock Price Target Cut by BTIG Research

Key Points

• BTIG Research cut LENSAR’s price target from $10 to $9 but maintained its Buy rating, implying 90.32% upside from the stock’s then-current price.
• LENSAR shares fell 13.4% to $4.73 on Tuesday, near the stock’s 12-month low of $4.62.
• The company reported quarterly EPS of -$0.38, missing the consensus estimate of -$0.10; revenue of $14.13 million also came in slightly below expectations. Analysts’ consensus rating is Hold, with an average target of $11.

LENSAR (NASDAQ:LNSR - Get Free Report) had its price target reduced by BTIG Research from $10.00 to $9.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's target price points to a potential upside of 90.32% from the stock's current price.

A number of other analysts have also recently issued reports on the company. Wall Street Zen cut LENSAR from a "buy" rating to a "hold" rating in a report on Saturday, October 3rd. Loop Capital set a $11.00 target price on LENSAR in a report on Monday, September 28th. Lake Street Capital reiterated a "buy" rating and set a $13.00 price target on shares of LENSAR in a research report on Thursday, August 13th. Finally, Weiss Ratings upgraded LENSAR from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, October 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, LENSAR has a consensus rating of "Hold" and a consensus target price of $11.00.

LENSAR Trading Down 13.4%

LNSR traded down $0.73 on Tuesday, reaching $4.73. The stock had a trading volume of 77,220 shares, compared to its average volume of 89,933. The business's 50-day moving average price is $6.73 and its two-hundred day moving average price is $7.32. The company has a market cap of $58.12 million, a P/E ratio of -14.15 and a beta of 1.03. LENSAR has a 12-month low of $4.62 and a 12-month high of $12.94.

LENSAR (NASDAQ:LNSR - Get Free Report) last posted its earnings results on Tuesday, November 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.28). The firm had revenue of $14.13 million for the quarter, compared to analysts' expectations of $14.30 million. LENSAR had a negative return on equity of 529.08% and a net margin of 57.57%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LNSR. Groupe la Francaise raised its position in shares of LENSAR by 16.2% in the first quarter. Groupe la Francaise now owns 213,537 shares of the company's stock worth $1,273,000 after buying an additional 29,813 shares in the last quarter. BlackRock Inc. purchased a new position in LENSAR during the second quarter worth about $1,057,000. DCF Advisers LLC bought a new position in LENSAR in the 2nd quarter worth about $675,000. Man Group plc bought a new position in LENSAR in the 2nd quarter worth about $445,000. Finally, Evernest Financial Advisors LLC bought a new position in LENSAR in the 1st quarter worth about $393,000. Institutional investors own 40.15% of the company's stock.

About LENSAR

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

Its product portfolio includes the LENSAR Laser System, which incorporates image-guidance and planning technologies intended to support precise, customized procedures.

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