Stifel Nicolaus Issues Pessimistic Forecast for RxSight (NASDAQ:RXST) Stock Price

RxSight (NASDAQ:RXST) had its target price decreased by analysts at Stifel Nicolaus from $33.00 to $28.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 8.82% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company lowered their price target on RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price target on RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. UBS Group assumed coverage on RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of RxSight in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.00.

RxSight Trading Down 2.9 %

NASDAQ:RXST opened at $25.73 on Wednesday. RxSight has a 1-year low of $24.64 and a 1-year high of $66.54. The business’s 50-day moving average price is $30.19 and its two-hundred day moving average price is $40.58. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -31.00 and a beta of 1.22.

RxSight (NASDAQ:RXST) last released its earnings results 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). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The company had revenue of $40.21 million during the quarter, compared to analyst estimates of $40.23 million. Sell-side analysts predict that RxSight will post -0.7 earnings per share for the current year.

Insider Transactions at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the transaction, the director now directly owns 24,793 shares in the company, valued at approximately $637,428.03. The trade was a 22.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jesse Anderson Corley bought 1,443 shares of RxSight 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 completion of the purchase, the director now directly owns 1,443 shares in the company, valued at $44,992.74. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 9.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RxSight

A number of institutional investors have recently modified their holdings of the business. Quarry LP increased its holdings in RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of RxSight in the 3rd quarter valued at about $34,000. Private Trust Co. NA bought a new stake in shares of RxSight in the 4th quarter valued at about $34,000. State of Wyoming bought a new stake in shares of RxSight in the 4th quarter valued at about $37,000. Finally, Coppell Advisory Solutions LLC grew its position in shares of RxSight by 108.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company’s stock valued at $44,000 after buying an additional 672 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.