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

RxSight, Inc. (NASDAQ:RXST) has received a consensus recommendation of “Reduce” from the fifteen analysts that are covering the stock, Marketbeat reports. Three equities research 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 1-year target price among brokers that have covered the stock in the last year is $9.7778.

A number of analysts have commented on RXST shares. UBS Group upped their price target on RxSight from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report 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. Piper Sandler cut their price objective on RxSight from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Stifel Nicolaus reduced their target price on shares of RxSight from $10.00 to $9.00 and set a “hold” rating for the company in a report on Monday, March 9th. Finally, Wolfe Research upgraded shares of RxSight to an “outperform” rating in a research note on Friday, January 30th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in RxSight by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock worth $552,000 after buying an additional 1,232 shares during the period. Invesco Ltd. raised its holdings in 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 acquiring an additional 1,249 shares during the period. Verition Fund Management LLC lifted its position in shares of RxSight by 4.4% in the fourth quarter. Verition Fund Management LLC now owns 40,613 shares of the company’s stock valued at $423,000 after acquiring an additional 1,701 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of RxSight by 110.5% in the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after acquiring an additional 2,089 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of RxSight by 5.0% in the second quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock worth $579,000 after acquiring an additional 2,121 shares during the period. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Stock Performance

Shares of RxSight stock opened at $7.48 on Tuesday. The stock has a market cap of $308.70 million, a P/E ratio of -7.87 and a beta of 1.16. The stock’s fifty day moving average is $8.62 and its 200 day moving average is $9.43. RxSight has a one year low of $6.32 and a one year high of $27.13.

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.