RxSight (NASDAQ:RXST) Lowered to Sell Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of RxSight (NASDAQ:RXST – Free Report) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of RxSight in a research report on Tuesday, July 7th. Bank of America dropped their price objective on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating on the stock in a report on Tuesday, July 7th. Jefferies Financial Group set a $6.50 price objective on shares of RxSight in a research note on Tuesday, July 7th. UBS Group raised their target price on shares of RxSight from $5.50 to $6.30 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Finally, Stifel Nicolaus decreased their target price on shares of RxSight from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $8.37.

View Our Latest Stock Analysis on RxSight

RxSight Stock Performance

Shares of RXST stock opened at $6.02 on Friday. RxSight has a fifty-two week low of $4.48 and a fifty-two week high of $13.22. The firm has a market capitalization of $250.37 million, a PE ratio of -5.33 and a beta of 1.16. The stock’s 50-day simple moving average is $6.10 and its 200-day simple moving average is $6.27.

RxSight (NASDAQ:RXST – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. The firm had revenue of $33.74 million during the quarter, compared to the consensus estimate of $32.55 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. Sell-side analysts forecast that RxSight will post -1.01 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Mark Wilterding sold 7,765 shares of RxSight stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total transaction of $54,044.40. Following the completion of the transaction, the chief financial officer directly owned 25,049 shares of the company’s stock, valued at $174,341.04. The trade was a 23.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider M Kurtz sold 5,100 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total transaction of $35,496.00. Following the completion of the transaction, the insider owned 71,775 shares of the company’s stock, valued at approximately $499,554. This represents a 6.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,947 shares of company stock worth $117,951 in the last ninety days. Corporate insiders own 10.05% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of RxSight by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock valued at $552,000 after buying an additional 1,232 shares during the period. Invesco Ltd. increased its position in shares of RxSight by 6.6% during the 4th quarter. Invesco Ltd. now owns 20,114 shares of the company’s stock worth $210,000 after purchasing an additional 1,249 shares during the last quarter. Verition Fund Management LLC raised its holdings in RxSight by 4.4% in the 4th quarter. Verition Fund Management LLC now owns 40,613 shares of the company’s stock valued at $423,000 after buying an additional 1,701 shares during the period. Larson Financial Group LLC lifted its position in RxSight by 110.5% in the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after buying an additional 2,089 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in RxSight by 5.0% in the second quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock valued at $579,000 after buying an additional 2,121 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

About RxSight

(Get Free Report)

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.

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