RxSight (NASDAQ:RXST) Given New $33.00 Price Target at Stifel Nicolaus

RxSight (NASDAQ:RXST) had its target price lowered by Stifel Nicolaus from $35.00 to $33.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other analysts have also commented on the company. UBS Group started coverage on RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 price target for the company. Wells Fargo & Company dropped their price target on RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday. Jefferies Financial Group began coverage on RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $43.00 price objective on shares of RxSight in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.63.

RxSight Stock Performance

NASDAQ:RXST opened at $28.97 on Wednesday. The business has a 50 day moving average price of $32.61 and a 200-day moving average price of $43.37. RxSight has a fifty-two week low of $26.29 and a fifty-two week high of $66.54. The firm has a market cap of $1.17 billion, a PE ratio of -34.90 and a beta of 1.19.

RxSight (NASDAQ:RXST) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The business had revenue of $40.21 million during the quarter, compared to analysts’ expectations of $40.23 million. Research analysts predict that RxSight will post -0.7 EPS for the current year.

Insider Activity

In related news, Director Jesse Anderson Corley purchased 1,443 shares of RxSight stock in a transaction dated Wednesday, January 15th. The stock was purchased at an average cost of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the acquisition, the director now directly owns 1,443 shares of the company’s stock, valued at $44,992.74. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ilya Goldshleger sold 3,105 shares of RxSight stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $46.08, for a total value of $143,078.40. Following the completion of the sale, the insider now owns 42,246 shares of the company’s stock, valued at $1,946,695.68. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Several large investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in RxSight by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock worth $1,782,000 after buying an additional 240 shares in the last quarter. Quarry LP increased its holdings in RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after buying an additional 288 shares in the last quarter. Mountain Capital Investment Advisors Inc. increased its holdings in RxSight by 3.8% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock worth $302,000 after buying an additional 320 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in RxSight by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock worth $1,034,000 after buying an additional 399 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in RxSight by 1.7% in the 4th quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock worth $914,000 after buying an additional 445 shares in the last quarter. 78.78% of the stock is currently owned by 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.