RxSight, Inc. (RXST) – What Are Brokerages Saying About This Stock?

RxSight, Inc. (NASDAQ:RXST) has earned a consensus rating of “Reduce” from the twelve research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $8.17.

A number of equities analysts have recently weighed in on RXST shares. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of RxSight in a research note on Tuesday, July 7th. Jefferies Financial Group decreased their price target on shares of RxSight from $6.50 to $5.75 and set a “hold” rating on the stock in a report on Tuesday, September 22nd. UBS Group boosted their price target on RxSight from $5.50 to $6.30 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Stifel Nicolaus cut their price target on shares of RxSight from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Monday, August 10th. Finally, Bank of America lowered their target price on RxSight from $6.50 to $5.50 and set an “underperform” rating for the company in a research note on Tuesday, September 22nd.

RxSight Price Performance

NASDAQ RXST opened at $4.87 on Wednesday. The firm’s fifty day moving average price is $5.39 and its 200 day moving average price is $6.39. RxSight has a 12 month low of $4.40 and a 12 month high of $13.22. The company has a market capitalization of $202.54 million, a price-to-earnings ratio of -4.31 and a beta of 1.21.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate 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 forecast that RxSight will post -1.03 earnings per share for the current year.

Insider Buying and Selling at RxSight

In other RxSight news, CFO Mark Wilterding sold 7,765 shares of RxSight stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total value of $54,044.40. Following the completion of the transaction, the chief financial officer owned 25,049 shares of the company’s stock, valued at $174,341.04. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total transaction of $35,496.00. Following the sale, the insider owned 71,775 shares of the company’s stock, valued at approximately $499,554. The trade was a 6.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 16,947 shares of company stock worth $117,951 over the last ninety days. 10.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vise Technologies Inc. bought a new stake in shares of RxSight during the 3rd quarter valued at about $66,000. Corient Private Wealth LP raised its stake in RxSight by 176.6% during the second quarter. Corient Private Wealth LP now owns 85,838 shares of the company’s stock worth $414,000 after acquiring an additional 54,806 shares during the period. Grandeur Peak Global Advisors LLC lifted its holdings in RxSight by 55.2% in the second quarter. Grandeur Peak Global Advisors LLC now owns 722,440 shares of the company’s stock worth $3,482,000 after acquiring an additional 256,848 shares during the last quarter. Moore Capital Management LP lifted its holdings in RxSight by 116.2% in the second quarter. Moore Capital Management LP now owns 151,500 shares of the company’s stock worth $730,000 after acquiring an additional 81,438 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in RxSight by 16.6% in the second quarter. Hsbc Holdings PLC now owns 92,312 shares of the company’s stock valued at $445,000 after acquiring an additional 13,162 shares during the period. 78.78% of the stock is currently owned by institutional investors.

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.