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

RxSight, Inc. (NASDAQ:RXST) has received a consensus rating of “Reduce” from the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $9.7778.

A number of equities analysts have recently commented on the stock. UBS Group reaffirmed a “neutral” rating on shares of RxSight in a research report on Monday, January 12th. Piper Sandler raised their price objective on RxSight from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. upped their target price on RxSight from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. Morgan Stanley increased their price target on RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of RxSight in a report on Wednesday, October 8th.

RxSight Stock Down 3.5%

RXST stock opened at $9.51 on Monday. The firm has a market cap of $391.05 million, a price-to-earnings ratio of -10.81 and a beta of 1.14. RxSight has a twelve month low of $6.32 and a twelve month high of $34.71. The business’s fifty day simple moving average is $10.91 and its two-hundred day simple moving average is $9.37.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.15. RxSight had a negative net margin of 25.15% and a negative return on equity of 12.82%. The firm had revenue of $30.34 million for the quarter, compared to analysts’ expectations of $25.63 million. During the same period in the prior year, the business posted ($0.16) earnings per share. The business’s revenue for the quarter was down 31.4% on a year-over-year basis. Research analysts expect that RxSight will post -0.7 EPS for the current year.

Institutional Investors Weigh In On RxSight

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of RxSight by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock valued at $552,000 after purchasing an additional 1,232 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in RxSight by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock worth $7,838,000 after buying an additional 113,767 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in RxSight by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company’s stock valued at $2,358,000 after acquiring an additional 8,424 shares in the last quarter. Tempus Wealth Planning LLC boosted its position in RxSight by 109.2% during the 2nd quarter. Tempus Wealth Planning LLC now owns 22,565 shares of the company’s stock valued at $293,000 after acquiring an additional 11,777 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of RxSight by 614.1% in the 2nd quarter. CWM LLC now owns 4,520 shares of the company’s stock valued at $59,000 after acquiring an additional 3,887 shares during the period. Institutional investors own 78.78% of the company’s stock.

RxSight Company Profile

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.