Stifel Nicolaus Lowers RxSight (NASDAQ:RXST) Price Target to $28.00

RxSight (NASDAQ:RXST) had its target price reduced by Stifel Nicolaus from $33.00 to $28.00 in a report published on Wednesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

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

RxSight Price Performance

NASDAQ RXST opened at $24.84 on Wednesday. The company has a fifty day moving average of $29.63 and a two-hundred day moving average of $40.14. The company has a market capitalization of $1.01 billion, a PE ratio of -29.93 and a beta of 1.22. RxSight has a 1 year low of $24.09 and a 1 year high of $66.54.

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

Insider Transactions at RxSight

In other RxSight news, Director Tamara Fountain sold 7,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the sale, the director now directly owns 24,793 shares in the company, valued at approximately $637,428.03. The trade was a 22.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jesse Anderson Corley purchased 1,443 shares of the stock in a transaction dated Wednesday, January 15th. The shares were bought at an average cost of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the purchase, the director now owns 1,443 shares in the company, valued at approximately $44,992.74. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 9.36% of the company’s stock.

Institutional Trading of RxSight

A number of institutional investors have recently added to or reduced their stakes in RXST. Geode Capital Management LLC lifted its position in shares of RxSight by 17.7% during the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock valued at $40,398,000 after acquiring an additional 122,775 shares during the period. Victory Capital Management Inc. raised its holdings in RxSight by 21.0% during the third quarter. Victory Capital Management Inc. now owns 259,864 shares of the company’s stock worth $12,845,000 after purchasing an additional 45,161 shares during the last quarter. Barclays PLC boosted its position in RxSight by 389.8% during the third quarter. Barclays PLC now owns 58,786 shares of the company’s stock worth $2,906,000 after purchasing an additional 46,783 shares in the last quarter. State Street Corp grew its holdings in RxSight by 8.3% in the third quarter. State Street Corp now owns 817,671 shares of the company’s stock valued at $40,417,000 after purchasing an additional 62,349 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in RxSight by 28.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 285,329 shares of the company’s stock valued at $14,104,000 after purchasing an additional 62,507 shares during the last quarter. Hedge funds and other institutional investors 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.