LENSAR (NASDAQ:LNSR) Issues Earnings Results

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

LENSAR Stock Performance

NASDAQ:LNSR traded down $0.84 on Friday, reaching $10.60. The company’s stock had a trading volume of 164,709 shares, compared to its average volume of 55,785. LENSAR has a 1-year low of $6.52 and a 1-year high of $17.31. The business’s 50-day moving average price is $12.14 and its two-hundred day moving average price is $12.80. The firm has a market cap of $126.56 million, a PE ratio of -2.41 and a beta of 0.49.

Hedge Funds Weigh In On LENSAR

Several institutional investors have recently modified their holdings of LNSR. Vanguard Group Inc. grew its position in shares of LENSAR by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 507,603 shares of the company’s stock valued at $6,269,000 after acquiring an additional 1,446 shares during the period. Geode Capital Management LLC lifted its stake in LENSAR by 103.9% in the 2nd quarter. Geode Capital Management LLC now owns 219,373 shares of the company’s stock valued at $2,890,000 after purchasing an additional 111,802 shares during the last quarter. Gabelli Funds LLC lifted its stake in LENSAR by 277.8% in the 2nd quarter. Gabelli Funds LLC now owns 51,000 shares of the company’s stock valued at $672,000 after purchasing an additional 37,500 shares during the last quarter. Rangeley Capital LLC bought a new position in LENSAR during the second quarter worth about $658,000. Finally, Goldman Sachs Group Inc. bought a new stake in LENSAR in the first quarter valued at approximately $546,000. 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 analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $15.00.

About LENSAR

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.