LENSAR (NASDAQ:LNSR) Price Target Cut to $9.00 by Analysts at BTIG Research

LENSAR (NASDAQ:LNSR) had its price objective reduced by stock analysts at BTIG Research from $10.00 to $9.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research‘s target price would suggest a potential upside of 90.32% from the stock’s current price.

Several other research analysts have also issued reports on LNSR. Weiss Ratings upgraded shares of LENSAR from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 22nd. Loop Capital set a $11.00 price target on LENSAR in a research report on Monday, September 28th. Lake Street Capital reaffirmed a “buy” rating and set a $13.00 price target on shares of LENSAR in a research note on Thursday, August 13th. Finally, Wall Street Zen cut LENSAR from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, LENSAR currently has a consensus rating of “Hold” and an average price target of $11.00.

LENSAR Price Performance

LNSR stock traded down $0.73 during midday trading on Tuesday, reaching $4.73. The company had a trading volume of 77,220 shares, compared to its average volume of 89,933. LENSAR has a 1 year low of $4.62 and a 1 year high of $12.94. The company has a market capitalization of $58.12 million, a P/E ratio of -14.15 and a beta of 1.03. The firm has a 50-day moving average price of $6.73 and a 200-day moving average price of $7.32.

LENSAR (NASDAQ:LNSR) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.28). The company had revenue of $14.13 million during the quarter, compared to the consensus estimate of $14.30 million. LENSAR had a negative return on equity of 529.08% and a net margin of 57.57%.

Institutional Investors Weigh In On LENSAR

A number of hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp purchased a new stake in shares of LENSAR in the 2nd quarter valued at $58,000. Engineers Gate Manager LP purchased a new stake in LENSAR during the second quarter valued at about $63,000. State of Wyoming bought a new position in shares of LENSAR during the third quarter valued at about $110,000. Sanctuary Advisors LLC bought a new position in shares of LENSAR during the second quarter valued at about $96,000. Finally, Royal Bank of Canada grew its stake in shares of LENSAR by 78.2% during the first quarter. Royal Bank of Canada now owns 20,095 shares of the company’s stock valued at $120,000 after buying an additional 8,818 shares during the last quarter. 40.15% of the stock is currently owned by institutional investors.

About LENSAR

LENSAR, Inc is a medical technology company focused on ophthalmic laser systems used in cataract surgery and other procedures involving the eye. The company develops and commercializes femtosecond laser technology designed to assist surgeons with key steps of cataract surgery, including corneal incisions, capsulotomy and lens fragmentation.

Its product portfolio includes the LENSAR Laser System, which incorporates image-guidance and planning technologies intended to support precise, customized procedures.