BTIG Research Downgrades LENSAR (NASDAQ:LNSR) to Hold

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

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

LENSAR Trading Down 0.2 %

Shares of NASDAQ:LNSR opened at $14.14 on Monday. The company has a market capitalization of $166.70 million, a PE 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. The business’s fifty day simple moving average is $11.81 and its 200-day simple moving average is $8.36.

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

Institutional Investors Weigh In On LENSAR

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Evernest Financial Advisors LLC purchased a new stake in shares of LENSAR during the fourth quarter worth about $174,000. Bailard Inc. acquired a new stake in LENSAR in the 4th quarter worth approximately $181,000. Atria Investments Inc grew its position 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 purchasing an additional 5,729 shares during the last quarter. Essex Investment Management Co. LLC grew its position in LENSAR by 18.3% during the 4th 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 last quarter. Finally, Geode Capital Management LLC increased its stake in LENSAR by 3.5% during 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 in the last quarter. 40.15% of the stock is currently owned by hedge funds and other institutional investors.

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.