Shares of LENSAR (NASDAQ:LNSR) have recently encountered a mixed bag of ratings from analysts, with Wall Street Zen upgrading the stock to a hold rating in a report released on Friday. In contrast, Weiss Ratings reaffirmed a “sell (d-)” rating for LENSAR in a research note dated October 8, 2023. Currently, two analysts have assigned a hold rating, while one has categorized the stock as a sell. According to data from MarketBeat, LENSAR holds an average rating of “Reduce” and an average target price of $15.00.
Quarterly Performance and Investor Activity
LENSAR’s latest financial results, disclosed on November 6, 2023, revealed a challenging quarter for the company. The firm reported an earnings per share (EPS) of ($0.31), falling short of analysts’ consensus estimates, which predicted a loss of ($0.08). This performance reflects a significant negative return on equity of 737.30% and a net margin of 87.12%. The company’s revenue for the quarter totaled $14.32 million, which was below the expected $17.75 million.
Investor activity surrounding LENSAR has also seen notable changes. Several large institutional investors have adjusted their holdings in the company. BNP Paribas Financial Markets increased its stake by an impressive 129.0% during the third quarter, accumulating 2,008 shares valued at approximately $25,000 after acquiring an additional 1,131 shares. Additionally, the Police & Firemen’s Retirement System of New Jersey entered a new position worth $34,000 in the second quarter, while JPMorgan Chase & Co. raised its stake by 584.3%, now holding 4,674 shares valued at $62,000.
Other significant investments in LENSAR include new stakes taken by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., valued at around $68,000, and the New York State Common Retirement Fund, which acquired approximately $105,000 in shares during the same quarter. Currently, institutional investors own 40.15% of LENSAR’s stock.
About LENSAR’s Technology
LENSAR, Inc. is a commercial-stage medical device company that specializes in the design, development, and marketing of a femtosecond laser system aimed at treating cataracts and managing corneal astigmatism. The company’s flagship product, the LENSAR Laser System, is equipped with a suite of proprietary technologies. These innovations are intended to enhance surgical outcomes, promote efficiency, and ensure reproducibility through advanced imaging, procedure planning, and precision design.
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