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

RxSight (NASDAQ:RXST) had its target price decreased by Stifel Nicolaus from $35.00 to $33.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 19.48% from the company’s previous close.

Other research analysts have also issued research reports about the company. Jefferies Financial Group assumed coverage on RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price for the company. UBS Group initiated 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. Wells Fargo & Company lowered their target price on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $43.00 price target on shares of RxSight in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.38.

RxSight Stock Down 5.7 %

NASDAQ RXST opened at $27.62 on Wednesday. The firm has a market cap of $1.11 billion, a P/E ratio of -32.89 and a beta of 1.19. The company’s 50 day moving average is $32.78 and its 200-day moving average is $43.47. RxSight has a 12-month low of $26.29 and a 12-month high of $66.54.

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 analysts’ expectations of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. Equities analysts expect that RxSight will post -0.7 EPS for the current year.

Insider Activity at RxSight

In other RxSight news, Director Jesse Anderson Corley acquired 1,443 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were acquired at an average cost of $31.18 per share, with a total value of $44,992.74. Following the transaction, the director now owns 1,443 shares of the company’s stock, valued at $44,992.74. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Shweta Maniar sold 3,519 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 9.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RxSight

Several institutional investors have recently modified their holdings of RXST. Geode Capital Management LLC boosted its holdings in shares of RxSight by 17.7% during the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock valued at $40,398,000 after acquiring an additional 122,775 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in RxSight by 21.0% in the third quarter. Victory Capital Management Inc. now owns 259,864 shares of the company’s stock worth $12,845,000 after purchasing an additional 45,161 shares during the last quarter. Baillie Gifford & Co. grew its position in RxSight by 17.0% in the 3rd quarter. Baillie Gifford & Co. now owns 419,004 shares of the company’s stock worth $20,711,000 after purchasing an additional 60,789 shares during the period. Barclays PLC raised its stake in RxSight by 389.8% during the 3rd quarter. Barclays PLC now owns 58,786 shares of the company’s stock valued at $2,906,000 after buying an additional 46,783 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of RxSight by 8.3% in the 3rd quarter. State Street Corp now owns 817,671 shares of the company’s stock worth $40,417,000 after buying an additional 62,349 shares during the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

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.