LENSAR (NASDAQ:LNSR) Issues Quarterly Earnings Results, Misses Expectations By $0.23 EPS

LENSAR (NASDAQ:LNSR) announced its earnings results on Thursday. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.23), Zacks reports. LENSAR had a negative net margin of 87.12% and a negative return on equity of 737.30%. The company had revenue of $14.32 million during the quarter, compared to the consensus estimate of $17.75 million.

LENSAR Trading Down 7.3%

Shares of NASDAQ LNSR traded down $0.84 during midday trading on Friday, hitting $10.60. 164,709 shares of the stock traded hands, compared to its average volume of 55,785. The business has a 50 day moving average price of $12.14 and a two-hundred day moving average price of $12.81. LENSAR has a one year low of $6.52 and a one year high of $17.31.

Hedge Funds Weigh In On LENSAR

Several large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in LENSAR by 584.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,674 shares of the company’s stock worth $62,000 after purchasing an additional 3,991 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of LENSAR in the second quarter valued at approximately $68,000. New York State Common Retirement Fund purchased a new position in shares of LENSAR during the second quarter valued at approximately $105,000. Engineers Gate Manager LP bought a new stake in LENSAR during the second quarter worth $168,000. Finally, Envestnet Asset Management Inc. raised its position in LENSAR by 11.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 15,277 shares of the company’s stock valued at $189,000 after buying an additional 1,611 shares during the last quarter. Institutional investors own 40.15% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LENSAR in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $15.00.

LENSAR Company Profile

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.