RxSight (NASDAQ:RXST) Price Target Raised to $12.00 at Needham & Company LLC

RxSight (NASDAQ:RXST) had its price target boosted by Needham & Company LLC from $11.00 to $12.00 in a research report released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on RXST. Morgan Stanley cut RxSight from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $20.00 to $9.00 in a report on Tuesday, July 15th. UBS Group dropped their price target on RxSight from $16.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Wall Street Zen lowered shares of RxSight from a “hold” rating to a “sell” rating in a research note on Saturday, July 12th. Piper Sandler decreased their target price on shares of RxSight from $18.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Finally, Zacks Research upgraded shares of RxSight from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, RxSight presently has an average rating of “Reduce” and a consensus price target of $9.56.

RxSight Trading Up 8.8%

Shares of NASDAQ RXST traded up $0.76 during midday trading on Thursday, reaching $9.37. The company’s stock had a trading volume of 1,008,319 shares, compared to its average volume of 990,873. RxSight has a one year low of $6.32 and a one year high of $49.25. The company has a market cap of $383.42 million, a price-to-earnings ratio of -10.65 and a beta of 1.16. The company has a 50 day moving average price of $8.78 and a 200 day moving average price of $10.81.

RxSight (NASDAQ:RXST) last issued its earnings results on Wednesday, November 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.15. The firm had revenue of $30.34 million during the quarter, compared to analysts’ expectations of $25.63 million. RxSight had a negative net margin of 25.15% and a negative return on equity of 12.78%. The firm’s revenue for the quarter was down 31.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.16) earnings per share. RxSight has set its FY 2025 guidance at EPS. Research analysts anticipate that RxSight will post -0.7 earnings per share for the current fiscal year.

Institutional Trading of RxSight

A number of hedge funds have recently made changes to their positions in RXST. Vanguard Group Inc. grew its position in RxSight by 0.4% during the first quarter. Vanguard Group Inc. now owns 2,392,052 shares of the company’s stock valued at $60,399,000 after purchasing an additional 8,504 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in RxSight by 27.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,252,544 shares of the company’s stock worth $29,283,000 after buying an additional 485,021 shares in the last quarter. Brown Capital Management LLC boosted its stake in shares of RxSight by 18.2% during the 2nd quarter. Brown Capital Management LLC now owns 1,119,240 shares of the company’s stock valued at $14,550,000 after buying an additional 171,952 shares during the period. Credit Agricole S A grew its holdings in shares of RxSight by 32.8% during the 1st quarter. Credit Agricole S A now owns 786,063 shares of the company’s stock valued at $19,848,000 after acquiring an additional 194,032 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of RxSight by 885.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 719,818 shares of the company’s stock worth $18,176,000 after acquiring an additional 646,791 shares during the last quarter. 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.