LENSAR (NASDAQ:LNSR) Stock Price Up 2.3% – Still a Buy?

LENSAR, Inc. (NASDAQ:LNSR)’s stock price shot up 2.3% on Wednesday . The stock traded as high as $5.84 and last traded at $5.84. Approximately 86,698 shares were traded during mid-day trading, a decline of 23% from the average session volume of 112,924 shares. The stock had previously closed at $5.71.

Analysts Set New Price Targets

LNSR has been the subject of a number of analyst reports. Wall Street Zen lowered LENSAR from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Lake Street Capital upgraded LENSAR from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday, April 1st. Weiss Ratings raised LENSAR from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, BTIG Research raised shares of LENSAR from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.00.

LENSAR Stock Performance

The stock has a market cap of $71.72 million, a PE ratio of -10.07 and a beta of 0.87. The stock’s 50-day moving average is $5.70 and its two-hundred day moving average is $8.67.

LENSAR (NASDAQ:LNSR) last announced its earnings results on Friday, May 8th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $1.38. The company had revenue of $13.43 million during the quarter, compared to analysts’ expectations of $13.40 million. LENSAR had a negative return on equity of 183.19% and a net margin of 50.94%.

Institutional Trading of LENSAR

Several hedge funds have recently added to or reduced their stakes in LNSR. BNP Paribas Financial Markets increased its position in shares of LENSAR by 129.0% in the 3rd 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 during the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of LENSAR during the second quarter worth $68,000. New York State Common Retirement Fund acquired a new position in shares of LENSAR during the second quarter worth $105,000. Finally, Royal Bank of Canada increased its holdings in LENSAR by 78.2% in 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. Institutional investors and hedge funds own 40.15% of the company’s stock.

About LENSAR

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.