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

RxSight (NASDAQ:RXST - Get Free Report) had its price objective reduced by equities researchers at Stifel Nicolaus from $40.00 to $35.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Stifel Nicolaus' price target would indicate a potential upside of 13.93% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. UBS Group began coverage on shares of RxSight in a research report on Friday, December 6th. They issued a "buy" rating and a $52.00 target price for the company. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $42.00 price objective (down from $56.00) on shares of RxSight in a research note on Wednesday, December 11th. Jefferies Financial Group started coverage on RxSight in a research note on Tuesday, October 29th. They issued a "buy" rating and a $72.00 price target for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $66.00 target price on shares of RxSight in a report on Monday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $58.13.

RxSight Stock Down 8.1 %

Shares of NASDAQ RXST traded down $2.71 during mid-day trading on Monday, reaching $30.72. 2,331,776 shares of the company were exchanged, compared to its average volume of 846,539. The company's 50-day simple moving average is $40.61 and its 200-day simple moving average is $47.38. The stock has a market capitalization of $1.24 billion, a P/E ratio of -37.01 and a beta of 1.20. RxSight has a twelve month low of $26.29 and a twelve month high of $66.54.

Insiders Place Their Bets

In other RxSight news, insider Ilya Goldshleger sold 3,105 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $46.08, for a total value of $143,078.40. Following the completion of the sale, the insider now owns 42,246 shares of the company's stock, valued at approximately $1,946,695.68. This trade represents a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Shweta Maniar sold 3,782 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value of $173,518.16. Following the sale, the director now owns 10,902 shares of the company's stock, valued at approximately $500,183.76. This represents a 25.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,002 shares of company stock worth $1,959,796. Corporate insiders own 9.36% of the company's stock.

Institutional Investors Weigh In On RxSight

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in RxSight by 17.7% during the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company's stock worth $40,398,000 after acquiring an additional 122,775 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in RxSight by 21.0% during the third quarter. Victory Capital Management Inc. now owns 259,864 shares of the company's stock worth $12,845,000 after purchasing an additional 45,161 shares during the last quarter. Algert Global LLC purchased a new position in RxSight during the second quarter worth about $2,488,000. Baillie Gifford & Co. grew its position in RxSight by 17.0% in the 3rd quarter. Baillie Gifford & Co. now owns 419,004 shares of the company's stock worth $20,711,000 after purchasing an additional 60,789 shares in the last quarter. Finally, Barclays PLC increased its stake in 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 buying an additional 46,783 shares during the last quarter. 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.