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

RxSight (NASDAQ:RXST) had its price target dropped by Stifel Nicolaus from $35.00 to $33.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 16.98% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group started 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. UBS Group assumed coverage on RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price objective on shares of RxSight in a research note on Wednesday. Finally, Wells Fargo & Company reduced their price objective on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.63.

RxSight Stock Down 2.6 %

Shares of RXST stock opened at $28.21 on Wednesday. RxSight has a fifty-two week low of $26.29 and a fifty-two week high of $66.54. The stock has a market cap of $1.14 billion, a P/E ratio of -33.99 and a beta of 1.19. The business has a fifty day simple moving average of $32.41 and a 200-day simple moving average of $43.26.

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

Insider Buying and Selling

In other RxSight news, Director Jesse Anderson Corley acquired 1,443 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were bought at an average cost of $31.18 per share, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shweta Maniar sold 3,519 shares of RxSight stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the sale, the director now owns 7,383 shares in the company, valued at $227,913.21. This represents a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RxSight

Several hedge funds and other institutional investors have recently bought and sold shares of RXST. Nisa Investment Advisors LLC increased its holdings in RxSight by 854.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after purchasing an additional 521 shares during the last quarter. Quarry LP increased its holdings in shares of RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of RxSight in the 3rd quarter valued at approximately $34,000. Private Trust Co. NA bought a new stake in shares of RxSight in the 4th quarter valued at approximately $34,000. Finally, State of Wyoming bought a new stake in shares of RxSight in the 4th quarter valued at approximately $37,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

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.