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

RxSight, Inc. (NASDAQ:RXST) has been assigned a consensus recommendation of “Reduce” from the fifteen brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $9.7778.

Several equities analysts have commented on RXST shares. Wells Fargo & Company increased their price target on RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. raised their target price on shares of RxSight from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Thursday, November 6th. Stifel Nicolaus set a $10.00 target price on RxSight in a report on Thursday, November 6th. Needham & Company LLC lifted their price target on RxSight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Piper Sandler increased their price objective on RxSight from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th.

Hedge Funds Weigh In On RxSight

Large investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of RxSight by 6.6% during the fourth quarter. Invesco Ltd. now owns 20,114 shares of the company’s stock valued at $210,000 after purchasing an additional 1,249 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of RxSight by 17.9% during the 4th quarter. Corient Private Wealth LLC now owns 35,570 shares of the company’s stock worth $371,000 after acquiring an additional 5,408 shares during the period. Tudor Investment Corp ET AL bought a new stake in RxSight in the fourth quarter valued at about $201,000. Boothbay Fund Management LLC acquired a new position in RxSight in the fourth quarter worth about $123,000. Finally, ADAR1 Capital Management LLC bought a new position in RxSight during the fourth quarter worth about $227,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Price Performance

RxSight stock opened at $8.40 on Friday. RxSight has a one year low of $6.32 and a one year high of $31.00. The company’s fifty day moving average price is $9.84 and its two-hundred day moving average price is $9.44. The company has a market capitalization of $345.41 million, a price-to-earnings ratio of -9.55 and a beta of 1.14.

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.