LENSAR (NASDAQ:LNSR) Downgraded by BTIG Research to Hold

BTIG Research cut 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 reiterated a “hold” rating and issued a $15.00 target price (down from $16.00) on shares of LENSAR in a research report on Monday.

LENSAR Stock Performance

LENSAR stock opened at $14.14 on Monday. The stock has a market capitalization of $166.70 million, a P/E ratio of -9.68 and a beta of 0.62. The company’s fifty day moving average price is $11.81 and its 200 day moving average price is $8.36. LENSAR has a 1 year low of $2.67 and a 1 year high of $17.31.

LENSAR (NASDAQ:LNSR) last posted its quarterly earnings data 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 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 analyst estimates of $14.95 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its holdings in LENSAR by 13.3% in the 4th quarter. Renaissance Technologies LLC now owns 348,891 shares of the company’s stock valued at $3,119,000 after purchasing an additional 40,946 shares during the last quarter. Geode Capital Management LLC grew its position in LENSAR by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 106,058 shares of the company’s stock worth $948,000 after acquiring an additional 5,627 shares during the period. Brandes Investment Partners LP raised its position in LENSAR by 10.4% in the fourth quarter. Brandes Investment Partners LP now owns 489,318 shares of the company’s stock valued at $4,375,000 after purchasing an additional 45,920 shares during the period. Essex Investment Management Co. LLC grew its holdings in shares of 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 period. Finally, Atria Investments Inc increased its position in shares of 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. Institutional investors and hedge funds own 40.15% of the company’s stock.

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.