Brokerages Set RxSight, Inc. (NASDAQ:RXST) Target Price at $9.56

RxSight, Inc. (NASDAQ:RXST) has been given a consensus rating of “Reduce” by the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $9.5556.

RXST has been the topic of several analyst reports. Stifel Nicolaus set a $10.00 target price on shares of RxSight in a report on Thursday, November 6th. Wells Fargo & Company boosted their price target on shares of RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Zacks Research raised shares of RxSight from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Needham & Company LLC raised their price objective on shares of RxSight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of RxSight in a research note on Wednesday, October 8th.

Institutional Trading of RxSight

Large investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of RxSight in the second quarter valued at about $28,000. Bessemer Group Inc. bought a new stake in RxSight during the 2nd quarter worth about $33,000. State of Wyoming increased its position in RxSight by 91.5% in the 1st quarter. State of Wyoming now owns 2,062 shares of the company’s stock valued at $52,000 after acquiring an additional 985 shares in the last quarter. CWM LLC increased its position in RxSight by 614.1% in the 2nd quarter. CWM LLC now owns 4,520 shares of the company’s stock valued at $59,000 after acquiring an additional 3,887 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of RxSight by 156.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,574 shares of the company’s stock worth $72,000 after acquiring an additional 3,398 shares during the last quarter. Institutional investors own 78.78% of the company’s stock.

RxSight Trading Up 1.6%

RXST stock opened at $9.73 on Wednesday. RxSight has a 1-year low of $6.32 and a 1-year high of $47.89. The business’s 50 day moving average is $8.90 and its 200-day moving average is $10.61. The firm has a market cap of $400.10 million, a P/E ratio of -11.06 and a beta of 1.16.

RxSight (NASDAQ:RXST) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.15. RxSight had a negative return on equity of 12.82% and a negative net margin of 25.15%.The business had revenue of $30.34 million for the quarter, compared to analyst estimates of $25.63 million. During the same quarter in the previous year, the firm earned ($0.16) EPS. RxSight’s quarterly revenue was down 31.4% on a year-over-year basis. RxSight has set its FY 2025 guidance at EPS. Sell-side analysts forecast that RxSight will post -0.7 EPS for the current year.

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.