RxSight (NASDAQ:RXST) Given New $35.00 Price Target at Wells Fargo & Company

RxSight (NASDAQ:RXST) had its target price dropped by Wells Fargo & Company from $40.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 28.89% from the company’s previous close.

Several other analysts have also recently commented on RXST. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price target on shares of RxSight in a research note on Wednesday. Stifel Nicolaus reduced their target price on RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Monday, January 13th. UBS Group started coverage on RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 price target for the company. Finally, Jefferies Financial Group initiated coverage on shares of RxSight in a report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.63.

RxSight Price Performance

RXST opened at $27.16 on Wednesday. The company has a 50 day simple moving average of $32.78 and a two-hundred day simple moving average of $43.47. The firm has a market cap of $1.09 billion, a P/E ratio of -34.07 and a beta of 1.19. RxSight has a 1-year low of $26.29 and a 1-year high of $66.54.

RxSight (NASDAQ:RXST) last issued its 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). The firm had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. Equities analysts anticipate that RxSight will post -0.7 earnings per share for the current year.

Insider Activity at RxSight

In other news, Director Jesse Anderson Corley bought 1,443 shares of the stock in a transaction on Wednesday, January 15th. The stock was bought at an average cost of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the purchase, the director now directly owns 1,443 shares in the company, valued at approximately $44,992.74. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ilya Goldshleger sold 3,105 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $46.08, for a total value of $143,078.40. Following the sale, the insider now owns 42,246 shares of the company’s stock, valued at approximately $1,946,695.68. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. 9.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RXST. Polar Asset Management Partners Inc. purchased a new position in shares of RxSight during the 4th quarter valued at approximately $1,606,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in RxSight by 23.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,958 shares of the company’s stock valued at $2,921,000 after acquiring an additional 16,140 shares during the period. Voloridge Investment Management LLC increased its holdings in RxSight by 138.9% in the 4th quarter. Voloridge Investment Management LLC now owns 365,617 shares of the company’s stock worth $12,570,000 after acquiring an additional 212,599 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in RxSight by 12.5% during the fourth quarter. Squarepoint Ops LLC now owns 133,125 shares of the company’s stock valued at $4,577,000 after purchasing an additional 14,799 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of RxSight in the fourth quarter valued at about $355,000. 78.78% of the stock is owned by institutional investors and hedge funds.

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.