LENSAR (NASDAQ:LNSR) Upgraded at Lake Street Capital

LENSAR (NASDAQ:LNSR) was upgraded by Lake Street Capital from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday,Finviz reports. The firm presently has a $10.00 price target on the stock. Lake Street Capital’s price target indicates a potential upside of 61.94% from the company’s previous close.

Several other equities analysts have also weighed in on LNSR. BTIG Research raised LENSAR from a “neutral” rating to a “buy” rating in a report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of LENSAR in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.00.

LENSAR Stock Up 3.6%

LNSR opened at $6.18 on Wednesday. The stock has a market cap of $73.73 million, a price-to-earnings ratio of -1.41 and a beta of 0.66. LENSAR has a twelve month low of $5.35 and a twelve month high of $14.31. The company’s 50-day moving average price is $10.70 and its two-hundred day moving average price is $11.26.

LENSAR (NASDAQ:LNSR) last released its earnings results on Tuesday, March 31st. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The firm had revenue of $16.03 million for the quarter, compared to analysts’ expectations of $20.30 million.

Institutional Investors Weigh In On LENSAR

A number of hedge funds and other institutional investors have recently bought and sold shares of LNSR. BNP Paribas Financial Markets grew its position in shares of LENSAR by 129.0% in the third quarter. BNP Paribas Financial Markets now owns 2,008 shares of the company’s stock valued at $25,000 after purchasing an additional 1,131 shares in the last quarter. JPMorgan Chase & Co. lifted 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 LENSAR in the 2nd quarter worth about $68,000. New York State Common Retirement Fund purchased a new position in LENSAR during the 2nd quarter valued at about $105,000. Finally, Wells Fargo & Company MN increased its position in shares of LENSAR by 69.4% during the fourth quarter. Wells Fargo & Company MN now owns 10,734 shares of the company’s stock valued at $125,000 after buying an additional 4,398 shares during the period. Institutional investors own 40.15% of the company’s stock.

LENSAR Company Profile

LENSAR, Inc, headquartered in Orlando, Florida, is a medical technology company specializing in advanced laser systems for ophthalmic surgery. Its flagship product, the LENSAR Laser System, combines proprietary three-dimensional imaging with precision-guided femtosecond laser delivery to perform critical steps in cataract procedures, including capsulotomy creation, lens fragmentation and corneal incisions.

Founded in 2005, LENSAR has concentrated its research and development efforts on enhancing surgical accuracy and patient outcomes in cataract treatment.