Zacks Investment Research Lowers Presbia PLC (LENS) to Sell

Presbia PLC (NASDAQ:LENS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

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 analysts have also issued reports on LENS. Jefferies Group LLC reissued a “buy” rating and issued a $10.00 target price (down previously from $11.00) on shares of Presbia PLC in a report on Friday, October 6th. ValuEngine raised Presbia PLC from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $11.33.

Shares of Presbia PLC (LENS) opened at 4.91 on Wednesday. The stock’s market cap is $83.25 million. The firm has a 50-day moving average price of $4.13 and a 200 day moving average price of $4.13. Presbia PLC has a 52-week low of $2.71 and a 52-week high of $5.88.

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An institutional investor recently raised its position in Presbia PLC stock. FMR LLC lifted its holdings in Presbia PLC (NASDAQ:LENS) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,568,278 shares of the medical instruments supplier’s stock after buying an additional 13,375 shares during the quarter. FMR LLC owned 15.15% of Presbia PLC worth $5,856,000 as of its most recent SEC filing. Institutional investors own 16.50% of the company’s stock.

About Presbia PLC

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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