Presbia (LENS) Rating Increased to Hold at Zacks Investment Research

Presbia (NASDAQ:LENS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Presbia PLC offers ophthalmic device. It is focused on the development and marketing of an optical lens implant for the treatment of presbyopia. The company’s product consists of Presbia Flexivue Microlens(TM). Presbia PLC is based in Irvine, California. “

A number of other research firms have also weighed in on LENS. Jefferies Group reissued a “buy” rating and set a $10.00 target price (down from $11.00) on shares of Presbia in a report on Friday, October 6th. ValuEngine raised shares of Presbia from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Presbia presently has an average rating of “Hold” and a consensus price target of $11.33.

Shares of Presbia (NASDAQ:LENS) opened at $2.30 on Tuesday. Presbia has a 1-year low of $1.86 and a 1-year high of $5.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.02 and a quick ratio of 2.94.

An institutional investor recently raised its position in Presbia stock. FMR LLC grew its position in Presbia PLC (NASDAQ:LENS) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,568,278 shares of the medical instruments supplier’s stock after purchasing an additional 13,375 shares during the quarter. FMR LLC owned approximately 15.15% of Presbia worth $5,856,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 16.05% of the company’s stock.

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Presbia Company Profile

Presbia PLC is an ophthalmic device company. The Company develops and markets an optical lens implant for treating presbyopia, the age-related loss of the ability to focus on near objects. The Company’s segment is the restoration of clear vision caused by presbyopia. The Company provides the refractive lens for patient surgeries and accessories for procedures performed exclusively outside the United States.

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