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

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

A number of other analysts have also weighed in on RXST. Needham & Company LLC restated a “buy” rating and set a $43.00 target price on shares of RxSight in a 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 research note on Thursday. Stifel Nicolaus cut their target price on RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, March 19th. Bank of America reissued an “underperform” rating and set a $22.00 price target (down from $36.00) on shares of RxSight in a research report on Thursday. Finally, UBS Group initiated coverage on shares of RxSight in a research report on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, RxSight presently has an average rating of “Hold” and an average price target of $43.78.

RxSight Trading Up 0.3 %

RXST opened at $16.26 on Friday. The company has a market capitalization of $658.38 million, a price-to-earnings ratio of -19.59 and a beta of 1.22. RxSight has a 12-month low of $14.37 and a 12-month high of $66.54. The business’s fifty day simple moving average is $28.12 and its 200-day simple moving average is $38.03.

RxSight (NASDAQ:RXST) last issued 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). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The business had revenue of $40.21 million for the quarter, compared to the consensus estimate of $40.23 million. On average, equities research analysts predict that RxSight will post -0.7 EPS for the current year.

Insider Activity

In other RxSight news, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the sale, 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 is accessible through the SEC website. Also, Director Jesse Anderson Corley acquired 1,443 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was acquired at an average cost of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the acquisition, the director now directly owns 1,443 shares in the company, valued at approximately $44,992.74. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Several hedge funds have recently added to or reduced their stakes in the business. Quarry LP lifted its holdings in shares of RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares during the period. Mountain Capital Investment Advisors Inc. lifted its holdings in RxSight by 3.8% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock valued at $302,000 after acquiring an additional 320 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in RxSight by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock valued at $1,034,000 after acquiring an additional 399 shares during the period. Wells Fargo & Company MN boosted its position in RxSight by 1.7% in the 4th quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock worth $914,000 after purchasing an additional 445 shares in the last quarter. Finally, MCIA Inc grew its stake in shares of RxSight by 5.7% during the 3rd quarter. MCIA Inc now owns 8,459 shares of the company’s stock worth $385,000 after purchasing an additional 459 shares during the period. 78.78% of the stock is owned by hedge funds and other 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.