JPMorgan Chase & Co. Reiterates Underweight Rating for RxSight (NASDAQ:RXST)

RxSight (NASDAQ:RXST - Get Free Report)'s stock had its "underweight" rating reiterated by analysts at JPMorgan Chase & Co. in a report released on Friday, MarketBeat.com reports. They presently have a $17.00 price target on the stock, down from their prior price target of $40.00. JPMorgan Chase & Co.'s target price would suggest a potential upside of 9.59% from the stock's current price.

A number of other brokerages have also weighed in on RXST. Bank of America restated an "underperform" rating and set a $22.00 target price (down previously from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $43.00 price target on shares of RxSight in a report on Thursday, April 3rd. Wells Fargo & Company reduced their price objective on RxSight from $35.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. Stifel Nicolaus lowered their price objective 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 started coverage on RxSight in a research report on Friday, December 6th. They set a "buy" rating and a $52.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $39.78.

RxSight Stock Performance

Shares of RXST stock traded up $0.52 during mid-day trading on Friday, reaching $15.51. 684,719 shares of the company's stock traded hands, compared to its average volume of 591,260. The firm has a market capitalization of $628.10 million, a PE ratio of -18.64 and a beta of 1.26. RxSight has a 12 month low of $10.80 and a 12 month high of $66.54. The firm has a 50 day moving average price of $27.13 and a two-hundred day moving average price of $37.10.

RxSight (NASDAQ:RXST - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $40.23 million. As a group, equities analysts expect that RxSight will post -0.7 earnings per share for the current fiscal year.

Insider Activity at RxSight

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 transaction of $108,631.53. Following the completion of the sale, the director now directly owns 7,383 shares of the company's stock, valued at approximately $227,913.21. The trade was a 32.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tamara Fountain sold 7,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the transaction, the director now directly owns 24,793 shares in the company, valued at $637,428.03. This represents a 22.02 % decrease in their position. The disclosure for this sale can be found here. 9.36% of the stock is owned by company insiders.

Institutional Trading of RxSight

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of RxSight by 17.7% in the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company's stock valued at $40,398,000 after purchasing an additional 122,775 shares in the last quarter. Barclays PLC increased its holdings in shares of RxSight by 389.8% in the 3rd quarter. Barclays PLC now owns 58,786 shares of the company's stock valued at $2,906,000 after acquiring an additional 46,783 shares during the period. State Street Corp raised its position in shares of RxSight by 8.3% in the 3rd quarter. State Street Corp now owns 817,671 shares of the company's stock worth $40,417,000 after acquiring an additional 62,349 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of RxSight by 28.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 285,329 shares of the company's stock worth $14,104,000 after purchasing an additional 62,507 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new stake in RxSight during the fourth quarter valued at about $69,000. 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.