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

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

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

LENSAR Stock Down 0.2 %

Shares of NASDAQ LNSR opened at $14.14 on Monday. LENSAR has a twelve month low of $2.67 and a twelve month high of $17.31. The firm has a market cap of $166.70 million, a PE ratio of -9.68 and a beta of 0.62. The business has a fifty day simple moving average of $11.81 and a two-hundred day simple 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 the consensus estimate of ($0.21) by ($1.40). The business had revenue of $16.73 million for the quarter, compared to the consensus estimate of $14.95 million. LENSAR had a negative return on equity of 49.02% and a negative net margin of 34.03%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 3,423 shares during the last quarter. Evernest Financial Advisors LLC acquired a new position in LENSAR in the fourth quarter valued at approximately $174,000. Bailard Inc. purchased a new stake in LENSAR in the 4th quarter worth approximately $181,000. Atria Investments Inc grew its stake 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 period. Finally, Essex Investment Management Co. LLC increased 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 valued at $357,000 after purchasing an additional 6,184 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.