Falcon Point Capital LLC increased its holdings in shares of Avedro Inc (NASDAQ:AVDR) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,954 shares of the company’s stock after buying an additional 653 shares during the quarter. Falcon Point Capital LLC owned 0.13% of Avedro worth $431,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in AVDR. Redmile Group LLC bought a new position in Avedro in the first quarter valued at about $1,534,000. Lombard Odier Asset Management USA Corp bought a new position in Avedro in the first quarter valued at about $1,258,000. Laurion Capital Management LP bought a new position in Avedro in the first quarter valued at about $920,000. MYDA Advisors LLC bought a new position in Avedro in the first quarter valued at about $859,000. Finally, Dean Capital Investments Management LLC bought a new position in Avedro in the first quarter valued at about $599,000. Institutional investors and hedge funds own 60.35% of the company’s stock.
AVDR stock opened at $21.99 on Friday. Avedro Inc has a twelve month low of $10.75 and a twelve month high of $24.74. The company has a quick ratio of 9.09, a current ratio of 9.90 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $19.63. The company has a market capitalization of $382.97 million and a price-to-earnings ratio of -1.22.
Several equities analysts have commented on the company. JPMorgan Chase & Co. downgraded Avedro from an “overweight” rating to a “neutral” rating and set a $26.00 target price for the company. in a research report on Wednesday. Leerink Swann downgraded Avedro from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a research report on Monday. Zacks Investment Research upgraded Avedro from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Monday. Svb Leerink reaffirmed a “market perform” rating and set a $22.00 target price (down previously from $25.00) on shares of Avedro in a research note on Tuesday. Finally, Cowen cut Avedro from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $25.00 to $27.00 in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $24.00.
Avedro, Inc, an ophthalmic pharmaceutical and medical device company, develops and commercializes products to treat ophthalmic disorders and conditions, primarily associated with corneal weakness. The company's Avedro Corneal Remodeling platform comprises KXL and Mosaic systems, which deliver ultraviolet A or UVA light, and a suite of single-use riboflavin drug formulations.
Featured Story: Stochastic Momentum Index (SMI)
Receive News & Ratings for Avedro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avedro and related companies with MarketBeat.com's FREE daily email newsletter.