Stifel Nicolaus Lowers RxSight (NASDAQ:RXST) Price Target to $33.00

RxSight (NASDAQ:RXST) had its price target reduced by investment analysts at Stifel Nicolaus from $35.00 to $33.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 16.98% from the stock’s current price.

A number of other research firms have also weighed in on RXST. Wells Fargo & Company decreased their price target on RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday. UBS Group began coverage on RxSight in a research report on Friday, December 6th. They issued a “buy” rating and a $52.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price objective on shares of RxSight in a research note on Wednesday. Finally, Jefferies Financial Group began coverage on RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.63.

RxSight Stock Down 2.6 %

Shares of RxSight stock opened at $28.21 on Wednesday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -33.99 and a beta of 1.19. The business has a fifty day simple moving average of $32.41 and a 200-day simple moving average of $43.26. RxSight has a fifty-two week low of $26.29 and a fifty-two week high of $66.54.

RxSight (NASDAQ:RXST) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.25). The firm had revenue of $40.21 million during the quarter, compared to analyst estimates of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. Analysts anticipate that RxSight will post -0.7 earnings per share for the current fiscal year.

Insider Transactions at RxSight

In related news, Director Jesse Anderson Corley acquired 1,443 shares of the stock in a transaction dated Wednesday, January 15th. The shares were acquired at an average price of $31.18 per share, with a total value of $44,992.74. Following the acquisition, the director now owns 1,443 shares in the company, valued at approximately $44,992.74. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shweta Maniar sold 3,519 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the transaction, the director now directly owns 7,383 shares in the company, valued at approximately $227,913.21. This represents a 32.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. RA Capital Management L.P. increased its holdings in shares of RxSight by 6.0% during the 3rd quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock valued at $193,609,000 after acquiring an additional 222,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in RxSight by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company’s stock valued at $81,946,000 after buying an additional 96,464 shares during the last quarter. Bank of America Corp DE grew its holdings in RxSight by 23.7% in the 4th quarter. Bank of America Corp DE now owns 2,159,923 shares of the company’s stock valued at $74,258,000 after buying an additional 413,737 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in RxSight by 32.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock valued at $53,345,000 after buying an additional 381,389 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in RxSight by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 830,758 shares of the company’s stock valued at $28,568,000 after buying an additional 13,641 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Company Profile

RxSight, Inc, a commercial-stage medical device company, engages in the research and development, manufacture, and sale of light adjustable intraocular lenses (LAL) used in cataract surgery in the United States and internationally. It offers RxSight system that enables doctors to customize and enhance the visual acuity for patients after cataract surgery.