Presbia PLC (LENS) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Presbia PLC (NASDAQ:LENS) from a hold rating to a sell rating in a research report released on Wednesday morning.

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. “

Several other research analysts also recently weighed in on LENS. Jefferies Group LLC reiterated a buy rating and set a $10.00 price target (down previously from $11.00) on shares of Presbia PLC in a research note on Friday, October 6th. ValuEngine upgraded Presbia PLC from a strong sell rating to a sell rating in a research note 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 company presently has an average rating of Hold and an average price target of $11.33.

Presbia PLC (NASDAQ:LENS) traded up 1.93% during trading on Wednesday, reaching $4.75. 10,407 shares of the company’s stock were exchanged. The firm’s market cap is $80.54 million. The firm’s 50-day moving average price is $4.15 and its 200-day moving average price is $4.15. Presbia PLC has a 12 month low of $1.86 and a 12 month high of $5.88.

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

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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