Bank of America Lowers RxSight (NASDAQ:RXST) Price Target to $36.00

RxSight (NASDAQ:RXST) had its price objective lowered by Bank of America from $60.00 to $36.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 44.58% from the stock’s current price.

Several other equities analysts have also issued reports on RXST. UBS Group assumed coverage on RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $43.00 target price on shares of RxSight in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their target price on shares of RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus dropped their price target on shares of RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company cut their price objective on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.33.

RxSight Trading Up 0.2 %

RXST opened at $24.90 on Friday. RxSight has a 1-year low of $24.38 and a 1-year high of $66.54. The stock has a market capitalization of $1.01 billion, a PE ratio of -30.00 and a beta of 1.22. The firm has a 50-day moving average price of $29.80 and a two-hundred day moving average price of $40.36.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The company had revenue of $40.21 million during the quarter, compared to analyst estimates of $40.23 million. On average, research analysts predict that RxSight will post -0.7 EPS for the current year.

Insider Buying and Selling

In other news, Director Shweta Maniar sold 3,519 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the transaction, the director now owns 7,383 shares of the company’s stock, valued at $227,913.21. The trade was a 32.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tamara Fountain sold 7,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the sale, the director now directly owns 24,793 shares in the company, valued at $637,428.03. The trade was a 22.02 % decrease in their position. The disclosure for this sale can be found here. 9.36% of the stock is owned by insiders.

Institutional Trading of RxSight

A number of large investors have recently bought and sold shares of RXST. Quarry LP lifted its holdings in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in RxSight in the 3rd quarter valued at approximately $34,000. Private Trust Co. NA acquired a new position in RxSight during the 4th quarter worth approximately $34,000. State of Wyoming bought a new position in shares of RxSight during the 4th quarter worth approximately $37,000. Finally, Coppell Advisory Solutions LLC raised its holdings in shares of RxSight by 108.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company’s stock valued at $44,000 after purchasing an additional 672 shares during the last quarter. 78.78% of the stock is owned by institutional investors.

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.