RxSight, Inc. (NASDAQ:RXST) Receives Consensus Recommendation of “Reduce” from Analysts

RxSight, Inc. (NASDAQ:RXST) has received an average recommendation of “Reduce” from the fifteen analysts that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $9.4444.

RXST has been the topic of a number of research reports. Weiss Ratings upgraded shares of RxSight from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Piper Sandler cut their target price on shares of RxSight from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, February 26th. UBS Group upped their target price on shares of RxSight from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, February 26th. Stifel Nicolaus dropped their price objective on RxSight from $10.00 to $9.00 and set a “hold” rating for the company in a report on Monday, March 9th. Finally, Wells Fargo & Company dropped their price objective on RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th.

RxSight Trading Up 6.5%

Shares of NASDAQ:RXST opened at $5.10 on Friday. RxSight has a 1-year low of $4.70 and a 1-year high of $16.00. The stock has a market capitalization of $211.14 million, a P/E ratio of -4.51 and a beta of 1.14. The business has a 50-day moving average price of $6.40 and a two-hundred day moving average price of $8.46.

Institutional Investors Weigh In On RxSight

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its holdings in RxSight by 130.6% in the third quarter. Millennium Management LLC now owns 2,193,062 shares of the company’s stock valued at $19,716,000 after purchasing an additional 1,241,885 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in RxSight by 23.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,157,264 shares of the company’s stock valued at $22,479,000 after purchasing an additional 403,581 shares during the last quarter. No Street GP LP increased its holdings in RxSight by 35.4% in the third quarter. No Street GP LP now owns 1,625,000 shares of the company’s stock valued at $14,609,000 after purchasing an additional 425,000 shares during the last quarter. Bank of America Corp DE increased its holdings in RxSight by 30.3% in the first quarter. Bank of America Corp DE now owns 1,210,039 shares of the company’s stock valued at $7,454,000 after purchasing an additional 281,426 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in RxSight by 761.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,131,400 shares of the company’s stock valued at $6,969,000 after purchasing an additional 1,000,000 shares during the last quarter. Institutional investors 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.