Analysts Set RxSight, Inc. (NASDAQ:RXST) Target Price at $8.37

Shares of RxSight, Inc. (NASDAQ:RXST) have been assigned a consensus recommendation of “Reduce” from the twelve brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.3667.

Several analysts have weighed in on the stock. Bank of America lowered their target price on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Jefferies Financial Group set a $6.50 price target on shares of RxSight in a research report on Tuesday, July 7th. Weiss Ratings lowered shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. UBS Group boosted their price objective on shares of RxSight from $5.50 to $6.30 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Finally, Wells Fargo & Company dropped their price objective on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th.

RxSight Price Performance

NASDAQ:RXST opened at $6.89 on Friday. The company has a market cap of $286.56 million, a PE ratio of -6.10 and a beta of 1.13. The business’s 50 day moving average is $5.50 and its two-hundred day moving average is $6.52. RxSight has a 52 week low of $4.48 and a 52 week high of $13.22.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. The business had revenue of $33.74 million during the quarter, compared to the consensus estimate of $32.55 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. As a group, sell-side analysts expect that RxSight will post -1.01 EPS for the current fiscal year.

Institutional Trading of RxSight

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in RxSight by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock valued at $552,000 after purchasing an additional 1,232 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of RxSight by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock valued at $7,838,000 after acquiring an additional 113,767 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of RxSight by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company’s stock valued at $2,358,000 after acquiring an additional 8,424 shares during the period. Creative Planning bought a new position in shares of RxSight during the second quarter worth about $207,000. Finally, Legal & General Group Plc grew its position in shares of RxSight by 5.0% during the second quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock worth $579,000 after acquiring an additional 2,121 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.