RxSight (NASDAQ:RXST) Price Target Lowered to $28.00 at Stifel Nicolaus

RxSight (NASDAQ:RXST) had its target price reduced by Stifel Nicolaus from $33.00 to $28.00 in a research note published on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

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

RxSight Trading Down 3.4 %

RxSight stock opened at $24.85 on Wednesday. The firm has a market capitalization of $1.01 billion, a P/E ratio of -29.94 and a beta of 1.22. RxSight has a 1 year low of $24.64 and a 1 year high of $66.54. The business has a 50-day moving average of $29.99 and a 200-day moving average of $40.47.

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

Insider Buying and Selling at RxSight

In other RxSight news, Director Tamara Fountain sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the sale, the director now owns 24,793 shares in the company, valued at approximately $637,428.03. The trade was a 22.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Shweta Maniar sold 3,519 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at $227,913.21. The trade was 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 Investors Weigh In On RxSight

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in RxSight by 17.7% during the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after buying an additional 122,775 shares during the period. Victory Capital Management Inc. increased its position in RxSight by 21.0% during the 3rd quarter. Victory Capital Management Inc. now owns 259,864 shares of the company’s stock worth $12,845,000 after buying an additional 45,161 shares during the period. Barclays PLC increased its position in shares of RxSight by 389.8% in the third quarter. Barclays PLC now owns 58,786 shares of the company’s stock worth $2,906,000 after purchasing an additional 46,783 shares during the period. State Street Corp increased its position in shares of RxSight by 8.3% in the third quarter. State Street Corp now owns 817,671 shares of the company’s stock worth $40,417,000 after purchasing an additional 62,349 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of RxSight by 28.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 285,329 shares of the company’s stock worth $14,104,000 after purchasing an additional 62,507 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.

About RxSight

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.