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

LENSAR (NASDAQ:LNSR) was downgraded by investment analysts at BTIG Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

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

LENSAR Stock Performance

Shares of NASDAQ:LNSR opened at $14.14 on Monday. LENSAR has a 52-week low of $2.67 and a 52-week high of $17.31. The company has a market capitalization of $166.70 million, a PE ratio of -9.68 and a beta of 0.62. The company has a fifty day moving average of $11.81 and a 200-day moving average of $8.36.

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 analysts’ consensus estimates of ($0.21) by ($1.40). The firm had revenue of $16.73 million during the quarter, compared to analyst estimates of $14.95 million. LENSAR had a negative return on equity of 49.02% and a negative net margin of 34.03%.

Hedge Funds Weigh In On LENSAR

Hedge funds have recently made changes to their positions in the stock. Evernest Financial Advisors LLC acquired a new position in shares of LENSAR in the 4th quarter worth approximately $174,000. Bailard Inc. bought a new stake in LENSAR during the fourth quarter valued at $181,000. Atria Investments Inc grew its holdings in LENSAR by 28.2% during the 4th quarter. Atria Investments Inc now owns 26,055 shares of the company’s stock worth $233,000 after acquiring an additional 5,729 shares during the period. Essex Investment Management Co. LLC raised its position in shares of LENSAR by 18.3% in the 4th quarter. Essex Investment Management Co. LLC now owns 39,890 shares of the company’s stock worth $357,000 after acquiring an additional 6,184 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of LENSAR by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 100,431 shares of the company’s stock valued at $460,000 after purchasing an additional 3,423 shares during the period. 40.15% of the stock is currently owned by institutional investors.

LENSAR Company Profile

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.