RxSight’s (RXST) “Underweight” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their underweight rating on shares of RxSight (NASDAQ:RXST) in a report released on Friday morning, MarketBeat reports. JPMorgan Chase & Co. currently has a $17.00 target price on the stock, down from their previous target price of $40.00.

Other equities research analysts have also recently issued research reports about the stock. UBS Group assumed coverage on shares of RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price target on shares of RxSight in a research report on Thursday. Wells Fargo & Company decreased their price objective on RxSight from $35.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday. Bank of America restated an “underperform” rating and issued a $22.00 price objective (down from $36.00) on shares of RxSight in a research note on Thursday. Finally, Stifel Nicolaus cut their target price on shares of RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, RxSight presently has a consensus rating of “Hold” and an average price target of $43.78.

RxSight Trading Up 0.3 %

Shares of RxSight stock opened at $16.26 on Friday. The business’s fifty day simple moving average is $28.12 and its 200 day simple moving average is $37.79. RxSight has a 12 month low of $14.37 and a 12 month high of $66.54. The firm has a market capitalization of $658.38 million, a P/E ratio of -19.59 and a beta of 1.26.

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

Insider Activity

In related news, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total value of $179,970.00. Following the transaction, the director now owns 24,793 shares in the company, valued at $637,428.03. This trade represents a 22.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the director now owns 7,383 shares of the company’s stock, valued at $227,913.21. This represents a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On RxSight

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RXST. Polar Asset Management Partners Inc. bought a new position in RxSight during the 4th quarter valued at approximately $1,606,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in RxSight by 23.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,958 shares of the company’s stock worth $2,921,000 after acquiring an additional 16,140 shares during the period. Voloridge Investment Management LLC boosted its holdings in RxSight by 138.9% in the fourth quarter. Voloridge Investment Management LLC now owns 365,617 shares of the company’s stock valued at $12,570,000 after acquiring an additional 212,599 shares in the last quarter. Squarepoint Ops LLC increased its position in RxSight by 12.5% during the 4th quarter. Squarepoint Ops LLC now owns 133,125 shares of the company’s stock valued at $4,577,000 after purchasing an additional 14,799 shares during the period. Finally, Tidal Investments LLC bought a new position in RxSight in the 4th quarter worth $355,000. 78.78% of the stock is currently owned by institutional investors.

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.