RxSight (NASDAQ:RXST) Stock Moved Up to Hold by Wall Street Zen

Wall Street Zen upgraded shares of RxSight (NASDAQ:RXST) from a sell rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

Several other research firms have also issued reports on RXST. Weiss Ratings reiterated a “sell (e+)” rating on shares of RxSight in a research report on Tuesday, September 8th. Wells Fargo & Company lowered their price objective on shares of RxSight from $9.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday. Jefferies Financial Group cut their target price on RxSight from $6.50 to $5.75 and set a “hold” rating for the company in a research note on Tuesday, September 22nd. Stifel Nicolaus cut their target price on RxSight from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Monday, August 10th. Finally, Bank of America reduced their target price on RxSight from $6.50 to $5.50 and set an “underperform” rating on the stock in a report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, RxSight presently has an average rating of “Hold” and an average price target of $6.94.

RxSight Price Performance

RXST opened at $4.54 on Friday. The stock has a market capitalization of $190.36 million, a price-to-earnings ratio of -3.55 and a beta of 1.21. RxSight has a twelve month low of $4.11 and a twelve month high of $13.22. The company has a 50-day simple moving average of $5.22 and a 200 day simple moving average of $6.26.

RxSight (NASDAQ:RXST) last released its earnings results on Tuesday, November 3rd. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.08). The firm had revenue of $24.59 million during the quarter, compared to the consensus estimate of $27.19 million. RxSight had a negative net margin of 43.80% and a negative return on equity of 20.11%. Sell-side analysts anticipate that RxSight will post -1.03 EPS for the current fiscal year.

Insider Transactions at RxSight

In related news, CFO Mark Wilterding sold 7,765 shares of RxSight stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total transaction of $54,044.40. Following the sale, the chief financial officer directly owned 25,049 shares of the company’s stock, valued at approximately $174,341.04. The trade was a 23.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ronald M. Md Kurtz sold 5,100 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total transaction of $35,496.00. Following the transaction, the insider owned 71,775 shares of the company’s stock, valued at approximately $499,554. This represents a 6.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 16,947 shares of company stock valued at $117,951 in the last three months. Company insiders own 10.05% of the company’s stock.

Institutional Trading of RxSight

A number of hedge funds have recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new position in shares of RxSight during the first quarter worth $30,000. Pure Financial Advisors LLC bought a new position in shares of RxSight in the 2nd quarter valued at $53,000. The Manufacturers Life Insurance Company bought a new position in shares of RxSight in the 2nd quarter valued at $56,000. Great Lakes Advisors LLC bought a new position in shares of RxSight in the 2nd quarter valued at $61,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of RxSight during the 1st quarter valued at $81,000. 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 improving visual outcomes for patients undergoing cataract surgery. The company develops and commercializes ophthalmic products that allow surgeons to customize a patient’s vision after surgery.

Its primary product is the RxSight Light Adjustable Lens, an intraocular lens implanted during cataract surgery. After implantation, the lens can be adjusted using ultraviolet light treatments delivered by the company’s Light Delivery Device, enabling physicians to refine the lens power based on the patient’s postoperative visual needs.