RxSight (NASDAQ:RXST) Coverage Initiated at Piper Sandler

Piper Sandler began coverage on shares of RxSight (NASDAQ:RXST - Free Report) in a report issued on Tuesday morning, MarketBeat reports. The brokerage issued a neutral rating and a $18.00 target price on the stock.

RXST has been the subject of several other research reports. Stifel Nicolaus dropped their target price on shares of RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday, March 19th. Needham & Company LLC reissued a "buy" rating and issued a $43.00 target price on shares of RxSight in a research note on Thursday, April 3rd. Wells Fargo & Company decreased their target price on RxSight from $35.00 to $22.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. UBS Group cut RxSight from a "buy" rating to a "neutral" rating and lowered their price target for the company from $45.00 to $16.00 in a research note on Wednesday, April 9th. Finally, Bank of America reissued an "underperform" rating and set a $22.00 price objective (down previously from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $37.60.

RxSight Stock Performance

RXST traded down $0.09 during mid-day trading on Tuesday, reaching $14.43. The stock had a trading volume of 1,068,889 shares, compared to its average volume of 618,522. The stock has a market capitalization of $584.29 million, a P/E ratio of -17.39 and a beta of 1.26. RxSight has a 52 week low of $13.50 and a 52 week high of $66.54. The firm's fifty day simple moving average is $23.77 and its two-hundred day simple moving average is $35.05.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) 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 return on equity of 14.00% and a negative net margin of 23.92%. As a group, analysts expect that RxSight will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling

In other RxSight news, Director Shweta Maniar sold 3,519 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the sale, the director now owns 7,383 shares in the company, valued at approximately $227,913.21. The trade was a 32.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tamara Fountain sold 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the transaction, the director now directly owns 24,793 shares of the company's stock, valued at $637,428.03. This represents a 22.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.36% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Mountain Capital Investment Advisors Inc. lifted its position in RxSight by 3.8% during the 4th 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. Wells Fargo & Company MN raised its holdings in RxSight by 1.7% during the fourth quarter. Wells Fargo & Company MN now owns 26,574 shares of the company's stock worth $914,000 after acquiring an additional 445 shares in the last quarter. Legal & General Group Plc boosted its position in RxSight by 1.2% during the fourth quarter. Legal & General Group Plc now owns 42,445 shares of the company's stock valued at $1,459,000 after purchasing an additional 512 shares during the last quarter. F M Investments LLC grew its stake in RxSight by 12.6% in the fourth quarter. F M Investments LLC now owns 5,901 shares of the company's stock valued at $203,000 after purchasing an additional 659 shares in the last quarter. Finally, Coppell Advisory Solutions LLC increased its position in shares of RxSight by 108.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock worth $44,000 after purchasing an additional 672 shares during the last quarter. 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.