Jefferies Financial Group Reiterates Hold Rating for RxSight (NASDAQ:RXST)

RxSight (NASDAQ:RXST)‘s stock had its “hold” rating reaffirmed by investment analysts at Jefferies Financial Group in a research report issued on Thursday, MarketBeat Ratings reports. They currently have a $9.00 price target on the stock, down from their previous price target of $24.00. Jefferies Financial Group’s price target indicates a potential upside of 12.50% from the company’s current price.

Other analysts also recently issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of RxSight in a research report on Wednesday. Oppenheimer downgraded RxSight from an “outperform” rating to a “market perform” rating in a research report on Wednesday. UBS Group downgraded RxSight from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $45.00 to $16.00 in a research report on Wednesday, April 9th. Piper Sandler cut their price target on RxSight from $18.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Stifel Nicolaus cut their price target on RxSight from $17.00 to $9.00 and set a “hold” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.90.

RxSight Stock Performance

Shares of NASDAQ:RXST opened at $8.00 on Thursday. The business’s 50 day simple moving average is $13.97 and its two-hundred day simple moving average is $22.02. The firm has a market cap of $325.12 million, a P/E ratio of -11.94 and a beta of 1.21. RxSight has a 52-week low of $6.32 and a 52-week high of $58.23.

RxSight (NASDAQ:RXST) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). RxSight had a negative return on equity of 9.54% and a negative net margin of 17.90%. The business 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 earned ($0.25) earnings per share. The company’s quarterly revenue was up 28.5% on a year-over-year basis. On average, equities analysts forecast that RxSight will post -0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RxSight

Several large investors have recently added to or reduced their stakes in the business. Mountain Capital Investment Advisors Inc. boosted its stake in RxSight by 3.8% during the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock valued at $302,000 after buying an additional 320 shares during the period. Wells Fargo & Company MN lifted its stake 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 purchasing an additional 445 shares during the last quarter. Legal & General Group Plc lifted its stake 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 purchasing an additional 512 shares during the last quarter. F M Investments LLC lifted its stake 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 purchasing an additional 659 shares during the last quarter. Finally, Coppell Advisory Solutions LLC lifted its stake 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 purchasing an additional 672 shares during the last quarter. Institutional investors 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.