RxSight (NASDAQ:RXST) Lowered to Hold Rating by Stifel Nicolaus

Stifel Nicolaus cut shares of RxSight (NASDAQ:RXST) from a buy rating to a hold rating in a research note released on Friday morning, Marketbeat reports. The firm currently has $40.00 price objective on the stock, down from their prior price objective of $65.00.

A number of other analysts have also recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price objective on shares of RxSight in a research report on Friday, September 13th. Jefferies Financial Group initiated coverage on shares of RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price for the company. Wells Fargo & Company restated an “equal weight” rating and set a $42.00 price objective (down previously from $56.00) on shares of RxSight in a report on Wednesday, December 11th. Finally, UBS Group assumed coverage on shares of RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

RxSight Stock Performance

RXST stock opened at $33.66 on Friday. The stock’s 50 day moving average price is $45.75 and its 200 day moving average price is $50.09. The firm has a market cap of $1.36 billion, a P/E ratio of -40.55 and a beta of 1.11. RxSight has a 1 year low of $33.03 and a 1 year high of $66.54.

Insider Activity

In other RxSight news, Director Jesse Anderson Corley purchased 11,111 shares of RxSight stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average price of $45.37 per share, with a total value of $504,106.07. Following the completion of the acquisition, the director now owns 468,571 shares of the company’s stock, valued at approximately $21,259,066.27. This trade represents a 2.43 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Shweta Maniar sold 3,782 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value of $173,518.16. Following the completion of the transaction, the director now directly owns 10,902 shares in the company, valued at approximately $500,183.76. The trade was a 25.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,707 shares of company stock worth $3,037,386 over the last 90 days. Company insiders own 9.36% of the company’s stock.

Institutional Trading of RxSight

Several hedge funds and other institutional investors have recently bought and sold shares of RXST. Arete Wealth Advisors LLC bought a new stake in shares of RxSight in the 3rd quarter valued at approximately $215,000. Geode Capital Management LLC raised its holdings in shares of RxSight by 17.7% during the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after purchasing an additional 122,775 shares during the period. Barclays PLC lifted its position in shares of RxSight by 389.8% in the 3rd quarter. Barclays PLC now owns 58,786 shares of the company’s stock worth $2,906,000 after buying an additional 46,783 shares during the last quarter. MML Investors Services LLC bought a new stake in shares of RxSight during the 3rd quarter valued at about $452,000. Finally, MCIA Inc raised its stake in RxSight by 5.7% during the third quarter. MCIA Inc now owns 8,459 shares of the company’s stock worth $385,000 after acquiring an additional 459 shares during the period. 78.78% of the stock is 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.