Stifel Nicolaus Cuts RxSight (NASDAQ:RXST) Price Target to $9.00

RxSight (NASDAQ:RXST) had its price target reduced by Stifel Nicolaus from $10.00 to $9.00 in a research report sent to investors on Monday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Other analysts also recently issued research reports about the company. UBS Group raised their price target on RxSight from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Piper Sandler lowered their price objective on RxSight from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Morgan Stanley increased their target price on RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of RxSight in a research report on Thursday, February 26th. Finally, William Blair initiated coverage on RxSight in a research report on Friday, January 30th. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $9.78.

RxSight Price Performance

RXST stock opened at $7.39 on Monday. RxSight has a 1-year low of $6.32 and a 1-year high of $27.13. The firm has a fifty day moving average price of $8.80 and a two-hundred day moving average price of $9.45. The firm has a market cap of $304.99 million, a price-to-earnings ratio of -7.78 and a beta of 1.16.

Hedge Funds Weigh In On RxSight

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC boosted its holdings in shares of RxSight by 130.6% in the third quarter. Millennium Management LLC now owns 2,193,062 shares of the company’s stock worth $19,716,000 after buying an additional 1,241,885 shares during the period. Bank of America Corp DE raised its holdings in shares of RxSight by 406.0% during the third quarter. Bank of America Corp DE now owns 722,435 shares of the company’s stock valued at $6,495,000 after acquiring an additional 579,653 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of RxSight by 27.4% during the second quarter. Artisan Partners Limited Partnership now owns 2,252,544 shares of the company’s stock valued at $29,283,000 after acquiring an additional 485,021 shares during the period. UBS Group AG lifted its position in shares of RxSight by 183.0% in the 3rd quarter. UBS Group AG now owns 735,170 shares of the company’s stock valued at $6,609,000 after acquiring an additional 475,395 shares in the last quarter. Finally, Nuveen LLC lifted its position in shares of RxSight by 609.7% in the 4th quarter. Nuveen LLC now owns 531,730 shares of the company’s stock valued at $5,541,000 after acquiring an additional 456,803 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Company Profile

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.