Stifel Nicolaus Issues Pessimistic Forecast for RxSight (NASDAQ:RXST) Stock Price

RxSight (NASDAQ:RXST) had its target price cut by equities researchers at Stifel Nicolaus from $33.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 8.82% from the stock’s current price.

Several other equities analysts have also recently weighed in on RXST. UBS Group started coverage on RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 target price on the stock. Wells Fargo & Company reduced their price target on RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price target on RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $43.00 price target on shares of RxSight in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.00.

RxSight Stock Performance

RXST stock opened at $25.73 on Wednesday. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -31.00 and a beta of 1.22. RxSight has a 1 year low of $24.64 and a 1 year high of $66.54. The stock’s fifty day moving average is $30.19 and its two-hundred day moving average is $40.58.

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

Insider Buying and Selling

In other RxSight news, 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 transaction, the director now directly owns 7,383 shares of the company’s stock, valued at $227,913.21. The trade was a 32.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tamara Fountain sold 7,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total value of $179,970.00. Following the completion of the sale, the director now owns 24,793 shares in the company, valued at $637,428.03. This trade represents a 22.02 % 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 Trading of RxSight

A number of large investors have recently bought and sold shares of the stock. Brown Capital Management LLC acquired a new position in RxSight in the third quarter worth $26,813,000. Royal Bank of Canada boosted its stake in RxSight by 3,094.6% in the fourth quarter. Royal Bank of Canada now owns 508,491 shares of the company’s stock worth $17,481,000 after purchasing an additional 492,574 shares in the last quarter. DF Dent & Co. Inc. acquired a new position in RxSight in the fourth quarter worth $14,524,000. Bank of America Corp DE lifted its stake in shares of RxSight by 23.7% during the fourth quarter. Bank of America Corp DE now owns 2,159,923 shares of the company’s stock valued at $74,258,000 after acquiring an additional 413,737 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of RxSight by 610.2% during the third quarter. Point72 Asset Management L.P. now owns 446,976 shares of the company’s stock valued at $22,094,000 after acquiring an additional 384,041 shares during the period. 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.