LENSAR (NASDAQ:LNSR) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of LENSAR (NASDAQ:LNSR) from a sell rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “LENSAR Inc. is a commercial-stage medical device company. It focuses on designing, developing and marketing an advanced femtosecond laser system for the treatment of cataracts and the management of pre-existing or surgically induced corneal astigmatism. LENSAR Inc. is based in Orlando, Florida. “

Several other research firms have also issued reports on LNSR. BTIG Research assumed coverage on LENSAR in a research report on Monday, November 22nd. They set a buy rating and a $15.00 target price for the company. SVB Leerink reiterated an outperform rating on shares of LENSAR in a research report on Friday, October 22nd.

Shares of NASDAQ:LNSR opened at $6.01 on Tuesday. The stock has a market capitalization of $65.85 million, a P/E ratio of -2.44 and a beta of -0.59. LENSAR has a 1-year low of $5.82 and a 1-year high of $9.83. The business has a 50-day moving average price of $6.55 and a two-hundred day moving average price of $7.46.

LENSAR (NASDAQ:LNSR) last announced its quarterly earnings data on Monday, November 8th. The company reported ($0.65) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.06). The firm had revenue of $8.27 million for the quarter, compared to the consensus estimate of $7.67 million. LENSAR had a negative return on equity of 36.01% and a negative net margin of 71.47%. During the same period in the prior year, the firm posted ($0.64) earnings per share. Sell-side analysts expect that LENSAR will post -2.29 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in LNSR. UBS Group AG bought a new stake in shares of LENSAR during the 3rd quarter worth approximately $29,000. Russell Investments Group Ltd. bought a new stake in LENSAR in the 3rd quarter valued at $105,000. Must Asset Management Inc. bought a new stake in LENSAR in the 3rd quarter valued at $127,000. Grantham Mayo Van Otterloo & Co. LLC bought a new stake in LENSAR in the 3rd quarter valued at $232,000. Finally, Geode Capital Management LLC bought a new stake in LENSAR in the 3rd quarter valued at $627,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

About LENSAR

LENSAR, Inc, a commercial-stage medical device company, focuses on designing, developing, and marketing an advanced femtosecond laser system for the treatment of cataracts and the management of pre-existing or surgically induced corneal astigmatism. The company was incorporated in 2004 and is headquartered in Orlando, Florida.

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