Shares of LENSAR (NASDAQ:LNSR) received a “hold” rating from Wall Street Zen in a report released on Friday. This update comes as Weiss Ratings reaffirmed a “sell (d-)” rating on the stock in a research note dated October 8, 2023. The stock has garnered varied attention from analysts, with two research firms assigning a hold rating and one recommending a sell. According to data compiled by MarketBeat, LENSAR currently holds an average rating of “Reduce” along with a target price set at $15.00.
Recent Performance and Earnings
LENSAR recently reported its quarterly earnings on November 6, 2023. The company disclosed an earnings per share (EPS) of ($0.31), falling short of analysts’ consensus estimate of ($0.08) by $0.23. The firm also reported a negative return on equity of 737.30% and a net margin of 87.12%. Revenue figures for the quarter came in at $14.32 million, which was below the anticipated $17.75 million.
Institutional Investor Activity
Recent days have seen several institutional investors adjust their holdings in LENSAR. Notably, BNP Paribas Financial Markets increased its stake in the company by 129.0% during the third quarter, bringing its total holdings to 2,008 shares, valued at approximately $25,000. Additionally, the Police & Firemen’s Retirement System of New Jersey acquired a new position in LENSAR worth around $34,000 during the second quarter.
JPMorgan Chase & Co. significantly boosted its investment in LENSAR by 584.3% in the same quarter, now holding 4,674 shares with an estimated value of $62,000. Other noteworthy investors include MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., which purchased a new stake valued at approximately $68,000, and the New York State Common Retirement Fund, which invested about $105,000 in the company.
Currently, institutional investors collectively hold 40.15% of LENSAR’s shares, indicating significant interest in the company’s performance.
About LENSAR
LENSAR, Inc. is a commercial-stage medical device firm that specializes in the design, development, and marketing of a femtosecond laser system aimed at treating cataracts and managing corneal astigmatism, whether pre-existing or surgically induced. The company’s flagship product, the LENSAR Laser System, integrates various proprietary technologies, enhancing surgical efficiency and precision while aiming to deliver optimal visual outcomes.
As the market continues to evolve, LENSAR remains under scrutiny from both analysts and investors, with its future performance closely watched in light of recent financial results and institutional trading activity.
