RxSight (NASDAQ:RXST) Downgraded by Zacks Investment Research to “Sell”

RxSight (NASDAQ:RXST – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “RxSight Inc. is a commercial-stage medical technology company focuses on patients following cataract surgery. The RxSight Light Adjustable Lens system, comprised of the RxSight Light Adjustable Lens(R), RxSight Light Delivery Device and accessories. RxSight Inc. is based in ALISO VIEJO, Calif. “

Separately, Needham & Company LLC assumed coverage on RxSight in a research report on Friday, April 8th. They issued a “buy” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $19.83.

Shares of RXST stock opened at $12.92 on Wednesday. The business’s fifty day moving average price is $12.82. RxSight has a 1 year low of $8.80 and a 1 year high of $19.67. The company has a quick ratio of 15.19, a current ratio of 15.91 and a debt-to-equity ratio of 0.29.

RxSight (NASDAQ:RXST – Get Rating) last issued its quarterly earnings data on Tuesday, March 8th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.02. The firm had revenue of $8.43 million for the quarter, compared to analyst estimates of $8.40 million. As a group, research analysts predict that RxSight will post -3.05 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of RXST. Royal Bank of Canada purchased a new stake in shares of RxSight in the third quarter worth about $33,000. New York State Common Retirement Fund acquired a new position in shares of RxSight in the third quarter worth about $48,000. California State Teachers Retirement System acquired a new position in shares of RxSight in the third quarter worth about $57,000. American International Group Inc. acquired a new position in shares of RxSight in the third quarter worth about $58,000. Finally, Deutsche Bank AG acquired a new position in shares of RxSight in the third quarter worth about $61,000. 29.31% of the stock is owned by institutional investors.

RxSight Company Profile (Get Rating)

RxSight, Inc, a medical technology 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.

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