BlackRock Inc. Buys New Holdings in LENSAR, Inc. $LNSR

Key Points

• BlackRock initiated a position in LENSAR during the second quarter, purchasing 185,033 shares valued at approximately $1.06 million, or 1.51% of the company. Institutional investors collectively own 40.15% of LENSAR.
• LENSAR exceeded quarterly expectations, reporting EPS of $0.10 versus the consensus estimate of a $0.16 loss and revenue of $16.5 million compared with estimates of $14.65 million.
• Analyst sentiment is mixed but leans cautiously positive: the consensus rating is “Hold” with an average price target of $11.50, while recent targets include $10 from BTIG and $13 from Lake Street Capital.

BlackRock Inc. purchased a new stake in shares of LENSAR, Inc. (NASDAQ:LNSR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 185,033 shares of the company's stock, valued at approximately $1,057,000. BlackRock Inc. owned 1.51% of LENSAR at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LNSR. JPMorgan Chase & Co. raised its holdings in shares of LENSAR by 584.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,674 shares of the company's stock worth $62,000 after purchasing an additional 3,991 shares during the period. BNP Paribas Financial Markets lifted 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 in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of LENSAR during the 2nd quarter worth about $58,000. Royal Bank of Canada grew its holdings in shares of LENSAR by 78.2% during the 1st quarter. Royal Bank of Canada now owns 20,095 shares of the company's stock worth $120,000 after purchasing an additional 8,818 shares during the period. Finally, Groupe la Francaise increased its position in LENSAR by 16.2% during the 1st quarter. Groupe la Francaise now owns 213,537 shares of the company's stock worth $1,273,000 after purchasing an additional 29,813 shares in the last quarter. Hedge funds and other institutional investors own 40.15% of the company's stock.

LENSAR Price Performance

Shares of LNSR opened at $8.58 on Monday. LENSAR, Inc. has a 12 month low of $4.95 and a 12 month high of $12.94. The stock's 50-day moving average is $6.70 and its two-hundred day moving average is $6.93. The stock has a market cap of $105.45 million, a PE ratio of -26.00 and a beta of 0.97.

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

Analysts Set New Price Targets

LNSR has been the topic of several research reports. Wall Street Zen upgraded shares of LENSAR from a "hold" rating to a "buy" rating in a report on Sunday, August 23rd. Weiss Ratings downgraded shares of LENSAR from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 21st. 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. Finally, BTIG Research increased their price objective on shares of LENSAR from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $11.50.

LENSAR Profile

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.

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