Shares of LENSAR (NASDAQ:LNSR) have recently been subject to varied ratings from analysts, reflecting ongoing concerns about the company’s financial performance. On Friday, Wall Street Zen upgraded the stock to a hold rating. In contrast, Weiss Ratings reaffirmed a “sell (D-)” rating on October 8, 2023. Currently, two research analysts have assigned a hold rating to LENSAR, while one has designated it as a sell. According to data from MarketBeat, the stock holds an average rating of “Reduce” with an average target price of $15.00.
Recent Financial Results
LENSAR’s financial situation has raised alarms among investors. The company reported its quarterly earnings on November 6, 2023, revealing an earnings per share (EPS) of ($0.31). This figure fell short of analysts’ consensus estimates of ($0.08), a disappointing variance of ($0.23). Notably, LENSAR recorded a negative return on equity of 737.30% and a troubling net margin of 87.12%. During the quarter, LENSAR generated revenue of $14.32 million, significantly below the anticipated $17.75 million.
Institutional Trading Activity
In recent weeks, several large investors have made adjustments to their holdings in LENSAR. Notably, BNP Paribas Financial Markets increased its stake by 129.0% in the third quarter, acquiring 2,008 shares valued at approximately $25,000 after adding 1,131 shares. Additionally, the Police & Firemen’s Retirement System of New Jersey purchased a new position worth around $34,000 during the second quarter.
Furthermore, JPMorgan Chase & Co. amplified its holdings by an impressive 584.3%, now owning 4,674 shares valued at $62,000 after acquiring an additional 3,991 shares. Other investors, including MIRAE ASSET GLOBAL ETFs HOLDINGS Ltd. and the New York State Common Retirement Fund, also entered new stakes worth approximately $68,000 and $105,000 respectively. Currently, institutional investors hold 40.15% of LENSAR’s stock.
About LENSAR
LENSAR, Inc. is a commercial-stage medical device company focused on the design, development, and marketing of a femtosecond laser system intended for the treatment of cataracts and the management of corneal astigmatism. The LENSAR Laser System integrates proprietary technologies that assist surgeons in achieving optimal visual outcomes, efficiency, and reproducibility during procedures.
In light of these developments, LENSAR continues to navigate a challenging financial landscape while attracting attention from institutional investors. As analysts weigh in on its stock performance, the company remains under scrutiny regarding its future growth prospects.
