Stifel Nicolaus Cuts RxSight (NASDAQ:RXST) Price Target to $33.00

RxSight (NASDAQ:RXST) had its price objective reduced by Stifel Nicolaus from $35.00 to $33.00 in a report released on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Several other research firms have also recently weighed in on RXST. Jefferies Financial Group started coverage on RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price target for the company. UBS Group began 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 cut their price objective on RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price objective on shares of RxSight in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.63.

RxSight Price Performance

RXST stock opened at $28.36 on Wednesday. RxSight has a 1-year low of $26.29 and a 1-year high of $66.54. The business has a fifty day moving average price of $32.31 and a 200-day moving average price of $43.10. The stock has a market capitalization of $1.14 billion, a P/E ratio of -34.17 and a beta of 1.19.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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. As a group, analysts anticipate that RxSight will post -0.7 earnings per share for the current year.

Insider Buying and Selling at RxSight

In other RxSight news, Director Shweta Maniar sold 3,519 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total transaction of $108,631.53. Following the completion of the sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $227,913.21. The trade was a 32.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jesse Anderson Corley purchased 1,443 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were bought at an average cost of $31.18 per share, with a total value of $44,992.74. Following the acquisition, the director now directly owns 1,443 shares of the company’s stock, valued at $44,992.74. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 9.36% of the stock is currently owned by corporate insiders.

Institutional Trading of RxSight

Several hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its stake in shares of RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after acquiring an additional 521 shares during the period. Quarry LP boosted its stake in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after acquiring an additional 288 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of RxSight in the third quarter worth about $34,000. Private Trust Co. NA bought a new position in shares of RxSight in the fourth quarter worth about $34,000. Finally, State of Wyoming bought a new position in shares of RxSight in the fourth quarter worth about $37,000. Institutional investors own 78.78% of the company’s stock.

About RxSight

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.