RxSight, Inc. (NASDAQ:RXST) Given Consensus Recommendation of “Hold” by Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST) have been given a consensus recommendation of “Hold” by the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $37.90.

Several analysts have weighed in on RXST shares. UBS Group lowered RxSight from a “buy” rating to a “neutral” rating and lowered their target price for the company from $45.00 to $16.00 in a report on Wednesday, April 9th. Wells Fargo & Company raised RxSight from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $17.00 to $25.00 in a report on Monday. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $17.00 target price (down previously from $40.00) on shares of RxSight in a report on Friday, April 4th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 target price on shares of RxSight in a report on Thursday, April 3rd. Finally, Stifel Nicolaus lowered their target price on RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, March 19th.

Insider Activity

In other news, Director Tamara Fountain sold 7,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the sale, the director now directly owns 24,793 shares in the company, valued at $637,428.03. This represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several large investors have recently added to or reduced their stakes in the business. Mountain Capital Investment Advisors Inc. lifted its position in RxSight by 3.8% during the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock worth $302,000 after buying an additional 320 shares during the period. Wells Fargo & Company MN lifted its position in RxSight by 1.7% during the fourth quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock worth $914,000 after buying an additional 445 shares during the period. Legal & General Group Plc lifted its position in RxSight by 1.2% during the fourth quarter. Legal & General Group Plc now owns 42,445 shares of the company’s stock worth $1,459,000 after buying an additional 512 shares during the period. F M Investments LLC lifted its position in RxSight by 12.6% during the fourth quarter. F M Investments LLC now owns 5,901 shares of the company’s stock worth $203,000 after buying an additional 659 shares during the period. Finally, Coppell Advisory Solutions LLC lifted its position in RxSight by 108.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company’s stock worth $44,000 after buying an additional 672 shares during the period. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

RxSight Price Performance

Shares of RXST stock opened at $16.62 on Wednesday. The business’s fifty day moving average price is $17.72 and its 200 day moving average price is $29.62. RxSight has a 1-year low of $12.53 and a 1-year high of $64.50. The firm has a market capitalization of $675.39 million, a PE ratio of -20.02 and a beta of 1.32.

RxSight (NASDAQ:RXST) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The firm had revenue of $37.90 million for the quarter, compared to analyst estimates of $38.74 million. During the same quarter in the prior year, the company posted ($0.25) earnings per share. RxSight’s quarterly revenue was up 28.5% on a year-over-year basis. Equities research analysts expect that RxSight will post -0.7 earnings per share for the current fiscal year.

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.