RxSight, Inc. (NASDAQ:RXST) Given Average Rating of “Reduce” by Brokerages

RxSight, Inc. (NASDAQ:RXST) has earned an average rating of “Reduce” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $17.50.

Several analysts recently weighed in on RXST shares. Stifel Nicolaus decreased their price target on RxSight from $17.00 to $9.00 and set a “hold” rating on the stock in a report on Wednesday, July 9th. Bank of America lowered their target price on shares of RxSight from $18.00 to $9.00 and set an “underperform” rating for the company in a report on Wednesday, July 9th. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of RxSight in a report on Wednesday, July 9th. Morgan Stanley lowered RxSight from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $20.00 to $9.00 in a research report on Tuesday, July 15th. Finally, Piper Sandler reduced their price target on RxSight from $18.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, July 9th.

Institutional Investors Weigh In On RxSight

Several hedge funds have recently modified their holdings of RXST. Mountain Capital Investment Advisors Inc. raised its position in shares of RxSight by 3.8% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock worth $302,000 after acquiring an additional 320 shares in the last quarter. Wells Fargo & Company MN grew its stake in RxSight by 1.7% in the fourth quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock valued at $914,000 after purchasing an additional 445 shares during the last quarter. Legal & General Group Plc raised its holdings in RxSight by 1.2% in 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 in the last quarter. F M Investments LLC lifted its position in shares of RxSight by 12.6% during the fourth quarter. F M Investments LLC now owns 5,901 shares of the company’s stock valued at $203,000 after buying an additional 659 shares during the last quarter. Finally, Coppell Advisory Solutions LLC lifted its position in shares of RxSight by 108.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company’s stock valued at $44,000 after buying an additional 672 shares during the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Price Performance

NASDAQ RXST opened at $7.80 on Monday. RxSight has a 1-year low of $6.32 and a 1-year high of $58.23. The business has a 50 day simple moving average of $11.91 and a two-hundred day simple moving average of $19.12. The stock has a market capitalization of $316.99 million, a PE ratio of -11.64 and a beta of 1.16.

RxSight (NASDAQ:RXST) last posted its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $37.90 million during the quarter, compared to analyst estimates of $38.74 million. RxSight had a negative net margin of 17.90% and a negative return on equity of 9.54%. RxSight’s revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.25) earnings per share. On average, analysts anticipate that RxSight will post -0.7 EPS 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.