RxSight (NASDAQ:RXST) Given New $9.00 Price Target at Stifel Nicolaus

RxSight (NASDAQ:RXST) had its price target reduced by Stifel Nicolaus from $10.00 to $9.00 in a report issued on Monday,Benzinga reports. They currently have a hold rating on the stock.

RXST has been the subject of a number of other reports. William Blair started coverage on RxSight in a research report on Friday, January 30th. They set a “market perform” rating for the company. Wolfe Research upgraded RxSight to an “outperform” rating in a research report on Friday, January 30th. UBS Group boosted their price target on RxSight from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of RxSight in a research report on Thursday, February 26th. Finally, Piper Sandler reduced their price objective on shares of RxSight from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $9.78.

RxSight Price Performance

Shares of NASDAQ:RXST opened at $7.57 on Monday. The company has a market capitalization of $312.41 million, a P/E ratio of -7.97 and a beta of 1.16. RxSight has a 1 year low of $6.32 and a 1 year high of $27.13. The business’s 50 day simple moving average is $8.93 and its 200 day simple moving average is $9.47.

Institutional Investors Weigh In On RxSight

Several hedge funds have recently added to or reduced their stakes in the business. Brown Capital Management LLC lifted its holdings in shares of RxSight by 18.2% during the second quarter. Brown Capital Management LLC now owns 1,119,240 shares of the company’s stock worth $14,550,000 after purchasing an additional 171,952 shares during the period. Baillie Gifford & Co. grew its stake in shares of RxSight by 46.4% in the third quarter. Baillie Gifford & Co. now owns 686,316 shares of the company’s stock worth $6,170,000 after purchasing an additional 217,371 shares during the last quarter. Squarepoint Ops LLC increased its holdings in RxSight by 138.6% in the second quarter. Squarepoint Ops LLC now owns 374,663 shares of the company’s stock valued at $4,871,000 after purchasing an additional 217,608 shares during the period. AXQ Capital LP bought a new position in RxSight during the 2nd quarter worth $405,000. Finally, Carnegie Lake Advisors LLC raised its position in RxSight by 81.6% during the 3rd quarter. Carnegie Lake Advisors LLC now owns 194,345 shares of the company’s stock worth $1,747,000 after purchasing an additional 87,345 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.