RxSight (NASDAQ:RXST) Price Target Lowered to $35.00 at Stifel Nicolaus

RxSight (NASDAQ:RXST) had its price objective cut by analysts at Stifel Nicolaus from $40.00 to $35.00 in a report issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 22.98% from the stock’s current price.

RXST has been the topic of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price target on shares of RxSight in a research note on Monday. Wells Fargo & Company restated an “equal weight” rating and issued a $42.00 price target (down previously from $56.00) on shares of RxSight in a research report on Wednesday, December 11th. Jefferies Financial Group began coverage on shares of RxSight in a research report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price on the stock. Finally, UBS Group assumed coverage on shares of RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, RxSight has an average rating of “Moderate Buy” and a consensus target price of $58.38.

RxSight Price Performance

Shares of NASDAQ:RXST traded down $4.97 during midday trading on Monday, reaching $28.46. The company’s stock had a trading volume of 980,444 shares, compared to its average volume of 649,202. The business’s fifty day simple moving average is $41.02 and its 200-day simple moving average is $47.58. The company has a market capitalization of $1.15 billion, a P/E ratio of -34.29 and a beta of 1.20. RxSight has a fifty-two week low of $26.29 and a fifty-two week high of $66.54.

Insider Buying and Selling

In other RxSight news, insider Ilya Goldshleger sold 3,105 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $50.09, for a total value of $155,529.45. Following the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $2,116,102.14. The trade was a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shweta Maniar sold 3,782 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $45.88, for a total transaction of $173,518.16. Following the sale, the director now directly owns 10,902 shares of the company’s stock, valued at approximately $500,183.76. This trade represents a 25.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,002 shares of company stock valued at $1,959,796 over the last ninety days. 9.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On RxSight

Several institutional investors have recently made changes to their positions in the stock. Paragon Advisors LLC increased its position in RxSight by 20.5% in the 4th quarter. Paragon Advisors LLC now owns 37,822 shares of the company’s stock valued at $1,300,000 after buying an additional 6,423 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of RxSight by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 192,510 shares of the company’s stock valued at $9,516,000 after acquiring an additional 7,494 shares in the last quarter. Arete Wealth Advisors LLC acquired a new position in shares of RxSight during the third quarter worth approximately $215,000. Geode Capital Management LLC lifted its holdings in shares of RxSight by 17.7% in the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after purchasing an additional 122,775 shares in the last quarter. Finally, Barclays PLC grew its position in RxSight by 389.8% in the 3rd quarter. Barclays PLC now owns 58,786 shares of the company’s stock valued at $2,906,000 after purchasing an additional 46,783 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Company Profile

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.