RxSight, Inc. (NASDAQ:RXST) Receives $9.44 Consensus Target Price from Brokerages

RxSight, Inc. (NASDAQ:RXST) has earned an average rating of “Reduce” from the fifteen analysts that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $9.4444.

Several equities analysts have recently issued reports on RXST shares. Stifel Nicolaus decreased their price target on RxSight from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Monday, March 9th. 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 research report on Thursday, May 7th. Weiss Ratings cut RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Finally, Needham & Company LLC lowered their target price on RxSight from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, May 7th.

Institutional Investors Weigh In On RxSight

Several hedge funds and other institutional investors have recently made changes to their positions in RXST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in RxSight by 6.0% in 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 last quarter. Invesco Ltd. grew its stake in shares of RxSight by 6.6% during the fourth quarter. Invesco Ltd. now owns 20,114 shares of the company’s stock worth $210,000 after buying an additional 1,249 shares during the last quarter. Verition Fund Management LLC grew its stake in shares of RxSight by 4.4% during the fourth quarter. Verition Fund Management LLC now owns 40,613 shares of the company’s stock worth $423,000 after buying an additional 1,701 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of RxSight by 110.5% during the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock worth $36,000 after buying an additional 2,089 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings 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 buying an additional 2,121 shares in the last quarter. 78.78% of the stock is owned by institutional investors.

RxSight Price Performance

Shares of RXST opened at $5.17 on Thursday. The firm has a 50 day simple moving average of $5.68 and a two-hundred day simple moving average of $7.61. RxSight has a one year low of $4.48 and a one year high of $13.65. The company has a market cap of $214.04 million, a P/E ratio of -4.58 and a beta of 1.15.

About RxSight

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.