Wells Fargo & Company Lowers RxSight (NASDAQ:RXST) Price Target to $40.00

RxSight (NASDAQ:RXST - Free Report) had its target price decreased by Wells Fargo & Company from $42.00 to $40.00 in a research report sent to investors on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities analysts have also weighed in on the company. Jefferies Financial Group began coverage on RxSight in a research report on Tuesday, October 29th. They issued a "buy" rating and a $72.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $66.00 target price on shares of RxSight in a report on Monday. UBS Group began coverage on shares of RxSight in a report on Friday, December 6th. They set a "buy" rating and a $52.00 price target on the stock. Finally, Stifel Nicolaus lowered their price objective on shares of RxSight from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Monday. Two 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.13.

RxSight Price Performance

Shares of RXST traded down $2.71 during trading hours on Monday, hitting $30.72. 2,331,776 shares of the company were exchanged, compared to its average volume of 846,539. The company has a market capitalization of $1.24 billion, a PE ratio of -37.01 and a beta of 1.20. The firm has a fifty day simple moving average of $40.61 and a 200-day simple moving average of $47.38. RxSight has a one year low of $26.29 and a one year high of $66.54.

Insider Activity

In other news, Director Jesse Anderson Corley bought 11,111 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the purchase, the director now owns 468,571 shares of the company's stock, valued at $21,259,066.27. This trade represents a 2.43 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ilya Goldshleger sold 3,105 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $46.08, for a total transaction of $143,078.40. Following the transaction, the insider now directly owns 42,246 shares of the company's stock, valued at $1,946,695.68. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,002 shares of company stock valued at $1,959,796. Insiders own 9.36% of the company's stock.

Institutional Investors Weigh In On RxSight

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brown Capital Management LLC bought a new position in RxSight in the 3rd quarter worth approximately $26,813,000. Point72 Asset Management L.P. lifted its stake in shares of RxSight by 610.2% during the third quarter. Point72 Asset Management L.P. now owns 446,976 shares of the company's stock valued at $22,094,000 after acquiring an additional 384,041 shares during the period. Marshall Wace LLP acquired a new stake in shares of RxSight during the 2nd quarter worth approximately $19,512,000. Driehaus Capital Management LLC lifted its holdings in RxSight by 74.9% in the second quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company's stock valued at $42,490,000 after buying an additional 302,367 shares during the period. Finally, William Blair Investment Management LLC bought a new position in RxSight in the second quarter valued at approximately $14,942,000. 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.