RxSight (NASDAQ:RXST - Free Report) had its price objective lowered by Bank of America from $60.00 to $36.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.
A number of other research analysts have also weighed in on RXST. Needham & Company LLC reaffirmed a "buy" rating and set a $43.00 target price on shares of RxSight in a report on Wednesday, February 26th. Wells Fargo & Company lowered their price target on RxSight from $40.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on RxSight from $62.00 to $40.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus cut their target price on RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research note on Wednesday, March 19th. Finally, UBS Group began coverage on shares of RxSight in a report on Friday, December 6th. They issued a "buy" rating and a $52.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, RxSight has a consensus rating of "Moderate Buy" and an average price target of $49.33.
View Our Latest Analysis on RxSight
RxSight Price Performance
Shares of NASDAQ RXST traded up $0.04 during trading on Friday, reaching $24.88. 213,406 shares of the stock traded hands, compared to its average volume of 529,761. The company has a 50-day moving average of $29.63 and a 200-day moving average of $39.95. RxSight has a 52-week low of $24.09 and a 52-week high of $66.54. The stock has a market capitalization of $1.01 billion, a P/E ratio of -29.98 and a beta of 1.22.
RxSight (NASDAQ:RXST - Get Free Report) last issued its 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). The business had revenue of $40.21 million for the quarter, compared to the consensus estimate of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. Analysts expect that RxSight will post -0.7 earnings per share for the current fiscal year.
Insider Buying and Selling at RxSight
In other RxSight news, Director Tamara Fountain sold 7,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 24,793 shares in the company, valued at approximately $637,428.03. This trade represents a 22.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Shweta Maniar sold 3,519 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 7,383 shares in the company, valued at $227,913.21. This trade represents a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.36% of the company's stock.
Institutional Trading of RxSight
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RXST. Principal Financial Group Inc. raised its holdings in RxSight by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company's stock worth $1,782,000 after purchasing an additional 240 shares in the last quarter. Quarry LP increased its position in shares of RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company's stock valued at $32,000 after buying an additional 288 shares during the period. Mountain Capital Investment Advisors Inc. raised its stake in RxSight by 3.8% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company's stock worth $302,000 after buying an additional 320 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in RxSight by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company's stock worth $1,034,000 after buying an additional 399 shares during the period. Finally, Wells Fargo & Company MN boosted its position in RxSight by 1.7% during the 4th quarter. Wells Fargo & Company MN now owns 26,574 shares of the company's stock valued at $914,000 after acquiring an additional 445 shares in the last quarter. Hedge funds and other institutional investors own 78.78% of the company's stock.
About RxSight
(
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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.
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