LENSAR (NASDAQ:LNSR) Stock Price Up 1.6% – Still a Buy?

Shares of LENSAR, Inc. (NASDAQ:LNSR) shot up 1.6% during trading on Tuesday . The stock traded as high as $5.69 and last traded at $5.69. 22,368 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 45,638 shares. The stock had previously closed at $5.60.

Analyst Upgrades and Downgrades

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

LENSAR Price Performance

The company has a market cap of $68.85 million, a price-to-earnings ratio of -9.81 and a beta of 0.87. The business’s 50-day simple moving average is $5.71 and its 200-day simple moving average is $9.20.

LENSAR (NASDAQ:LNSR) last announced its earnings results on Friday, May 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping 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 net margin of 50.94% and a negative return on equity of 183.19%.

Hedge Funds Weigh In On LENSAR

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Credit Industriel ET Commercial raised its position in LENSAR by 0.8% during the fourth quarter. Credit Industriel ET Commercial now owns 124,483 shares of the company’s stock worth $1,448,000 after acquiring an additional 1,000 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of LENSAR by 129.0% during the third quarter. BNP Paribas Financial Markets now owns 2,008 shares of the company’s stock worth $25,000 after buying an additional 1,131 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of LENSAR by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 5,928 shares of the company’s stock worth $73,000 after buying an additional 1,254 shares in the last quarter. Barclays PLC grew its holdings in shares of LENSAR by 10.3% during the fourth quarter. Barclays PLC now owns 14,857 shares of the company’s stock worth $173,000 after buying an additional 1,389 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of LENSAR by 0.3% during the third quarter. Vanguard Group Inc. now owns 507,603 shares of the company’s stock worth $6,269,000 after buying an additional 1,446 shares in the last quarter. Institutional investors and hedge funds 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.