Stifel Nicolaus Issues Pessimistic Forecast for RxSight (NASDAQ:RXST) Stock Price

RxSight (NASDAQ:RXST - Get Free Report) had its price objective dropped by investment analysts at Stifel Nicolaus from $33.00 to $28.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Stifel Nicolaus' price objective points to a potential upside of 12.72% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC reiterated a "buy" rating and set a $43.00 price objective on shares of RxSight in a research report on Wednesday, February 26th. UBS Group assumed coverage on shares of RxSight in a report on Friday, December 6th. They issued a "buy" rating and a $52.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of RxSight from $62.00 to $40.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their target price on shares of RxSight from $40.00 to $35.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $49.33.

RxSight Stock Performance

RXST stock traded down $0.06 during trading on Wednesday, hitting $24.84. 594,203 shares of the company's stock traded hands, compared to its average volume of 530,999. RxSight has a 52 week low of $24.09 and a 52 week high of $66.54. The business has a fifty day simple moving average of $29.63 and a 200 day simple moving average of $39.95. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -29.93 and a beta of 1.22.

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RxSight (NASDAQ:RXST - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) 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 business had revenue of $40.21 million for the quarter, compared to the consensus estimate of $40.23 million. Research analysts forecast that RxSight will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its position in RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company's stock valued at $32,000 after purchasing an additional 288 shares during the period. Point72 Hong Kong Ltd purchased a new position in RxSight during the 3rd quarter valued at about $34,000. Private Trust Co. NA purchased a new position in RxSight during the 4th quarter valued at about $34,000. State of Wyoming purchased a new position in RxSight during the 4th quarter valued at about $37,000. Finally, Coppell Advisory Solutions LLC increased its position in RxSight by 108.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock valued at $44,000 after purchasing an additional 672 shares during the period. Hedge funds and other institutional investors own 78.78% of the company's stock.

About RxSight

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.