LENSAR (NASDAQ:LNSR) Cut to “Hold” at BTIG Research

BTIG Research lowered shares of LENSAR (NASDAQ:LNSR) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Separately, Lake Street Capital reaffirmed a “hold” rating and set a $15.00 target price (down previously from $16.00) on shares of LENSAR in a report on Monday.

LENSAR Stock Down 0.2 %

LENSAR stock opened at $14.14 on Monday. The business’s 50-day simple moving average is $11.81 and its 200 day simple moving average is $8.36. The stock has a market cap of $166.70 million, a price-to-earnings ratio of -9.68 and a beta of 0.62. LENSAR has a 12-month low of $2.67 and a 12-month high of $17.31.

LENSAR (NASDAQ:LNSR) last issued its earnings results on Thursday, February 27th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.40). LENSAR had a negative net margin of 34.03% and a negative return on equity of 49.02%. The business had revenue of $16.73 million during the quarter, compared to the consensus estimate of $14.95 million.

Hedge Funds Weigh In On LENSAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Evernest Financial Advisors LLC bought a new stake in shares of LENSAR in the 4th quarter valued at about $174,000. Bailard Inc. bought a new stake in LENSAR in the fourth quarter valued at approximately $181,000. Atria Investments Inc increased its stake in LENSAR by 28.2% in the fourth quarter. Atria Investments Inc now owns 26,055 shares of the company’s stock valued at $233,000 after purchasing an additional 5,729 shares in the last quarter. Essex Investment Management Co. LLC raised its holdings in LENSAR by 18.3% in the fourth quarter. Essex Investment Management Co. LLC now owns 39,890 shares of the company’s stock worth $357,000 after purchasing an additional 6,184 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of LENSAR by 3.5% during the third quarter. Geode Capital Management LLC now owns 100,431 shares of the company’s stock worth $460,000 after purchasing an additional 3,423 shares in the last quarter. Institutional investors own 40.15% of the company’s stock.

About LENSAR

LENSAR, Inc, a commercial-stage medical device company, focuses on designing, developing, and marketing a femtosecond laser system for the treatment of cataracts and the management of pre-existing or surgically induced corneal astigmatism. It offers LENSAR Laser System that incorporates a range of proprietary technologies designed to assist the surgeon in obtaining visual outcomes, efficiency, and reproducibility by providing imaging, procedure planning, design, and precision.