RxSight (NASDAQ:RXST) Cut to Hold at Stifel Nicolaus

Stifel Nicolaus cut shares of RxSight (NASDAQ:RXST) from a buy rating to a hold rating in a research report released on Friday morning, Marketbeat Ratings reports. They currently have $40.00 target price on the stock, down from their prior target price of $65.00.

A number of other brokerages have also commented on RXST. Jefferies Financial Group started coverage on RxSight in a research report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price objective on shares of RxSight in a report on Friday, September 13th. Wells Fargo & Company reissued an “equal weight” rating and set a $42.00 target price (down previously from $56.00) on shares of RxSight in a report on Wednesday, December 11th. Finally, UBS Group initiated coverage on shares of RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

RxSight Stock Performance

Shares of RXST opened at $33.66 on Friday. The stock has a 50-day moving average of $45.75 and a two-hundred day moving average of $50.04. The stock has a market cap of $1.36 billion, a P/E ratio of -40.55 and a beta of 1.11. RxSight has a one year low of $33.03 and a one year high of $66.54.

Insider Activity at RxSight

In related news, Director Shweta Maniar sold 3,782 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $45.88, for a total value of $173,518.16. Following the completion of the transaction, the director now owns 10,902 shares of the company’s stock, valued at approximately $500,183.76. This represents a 25.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ilya Goldshleger sold 3,100 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $45.00, for a total value of $139,500.00. Following the completion of the sale, the insider now directly owns 42,246 shares in the company, valued at approximately $1,901,070. The trade was a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,607 shares of company stock worth $2,874,109. 9.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On RxSight

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in RxSight by 727.5% during the second quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after purchasing an additional 371 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of 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 lifted its stake in RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in RxSight in the 3rd quarter worth about $34,000. Finally, Quest Partners LLC purchased a new stake in RxSight during the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

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.