LENSAR (NASDAQ:LNSR) Stock Price Up 0.6% – Here’s Why

LENSAR, Inc. (NASDAQ:LNSR) rose 0.6% during mid-day trading on Thursday . The stock traded as high as $12.66 and last traded at $12.28. Approximately 113,489 shares changed hands during mid-day trading, an increase of 262% from the average daily volume of 31,360 shares. The stock had previously closed at $12.21.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LNSR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LENSAR in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of LENSAR to a “hold” rating in a research note on Friday, November 28th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $15.00.

LENSAR Stock Performance

The business’s 50 day moving average price is $11.77 and its 200-day moving average price is $11.95. The firm has a market cap of $146.68 million, a price-to-earnings ratio of -2.80 and a beta of 0.69.

LENSAR (NASDAQ:LNSR) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.23). The company had revenue of $14.32 million during the quarter, compared to analyst estimates of $17.75 million.

Institutional Trading of LENSAR

Several institutional investors have recently added to or reduced their stakes in the business. Brandes Investment Partners LP lifted its position in shares of LENSAR by 3.5% in the 2nd quarter. Brandes Investment Partners LP now owns 563,581 shares of the company’s stock worth $7,422,000 after buying an additional 18,894 shares during the last quarter. Vanguard Group Inc. raised its stake in 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 acquiring an additional 1,446 shares during the period. Groupe la Francaise lifted its holdings in LENSAR by 99.5% in the second quarter. Groupe la Francaise now owns 251,400 shares of the company’s stock worth $3,311,000 after acquiring an additional 125,400 shares during the last quarter. Geode Capital Management LLC boosted its stake in LENSAR by 103.9% in the second quarter. Geode Capital Management LLC now owns 219,373 shares of the company’s stock valued at $2,890,000 after acquiring an additional 111,802 shares during the period. Finally, Credit Industriel ET Commercial boosted its stake in LENSAR by 98.4% in the second quarter. Credit Industriel ET Commercial now owns 168,600 shares of the company’s stock valued at $2,220,000 after acquiring an additional 83,600 shares during the period. Institutional investors 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.