Stifel Nicolaus Cuts RxSight (NASDAQ:RXST) Price Target to $7.00

by · The Markets Daily

RxSight (NASDAQ:RXST – Free Report) had its price objective reduced by Stifel Nicolaus from $8.00 to $7.00 in a report issued on Monday, Marketbeat Ratings reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other brokerages also recently commented on RXST. Wall Street Zen raised shares of RxSight from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Bank of America reduced their price objective on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a report on Tuesday, July 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of RxSight in a research report on Tuesday, July 7th. Jefferies Financial Group set a $6.50 target price on RxSight in a research note on Tuesday, July 7th. Finally, Wells Fargo & Company lowered their target price on RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $8.37.

Check Out Our Latest Stock Analysis on RxSight

RxSight Trading Up 0.3%

RXST opened at $7.06 on Monday. The stock’s fifty day simple moving average is $5.43 and its 200 day simple moving average is $6.56. RxSight has a 1-year low of $4.48 and a 1-year high of $13.22. The stock has a market cap of $293.63 million, a PE ratio of -6.25 and a beta of 1.13.

RxSight (NASDAQ:RXST – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. RxSight had a negative net margin of 36.80% and a negative return on equity of 17.35%. The firm had revenue of $33.74 million during the quarter, compared to analysts’ expectations of $32.55 million. Equities analysts forecast that RxSight will post -1.31 earnings per share for the current year.

Institutional Trading of RxSight

A number of institutional investors have recently bought and sold shares of RXST. BlackRock Inc. bought a new position in shares of RxSight during the second quarter worth approximately $27,910,000. Millennium Management LLC boosted its stake in shares of RxSight by 130.6% in the third quarter. Millennium Management LLC now owns 2,193,062 shares of the company’s stock valued at $19,716,000 after buying an additional 1,241,885 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of RxSight by 23.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,157,264 shares of the company’s stock valued at $22,479,000 after buying an additional 403,581 shares during the period. No Street GP LP grew its position in RxSight by 35.4% during the third quarter. No Street GP LP now owns 1,625,000 shares of the company’s stock worth $14,609,000 after buying an additional 425,000 shares in the last quarter. Finally, Bank of America Corp DE grew its position in RxSight by 30.3% during the first quarter. Bank of America Corp DE now owns 1,210,039 shares of the company’s stock worth $7,454,000 after buying an additional 281,426 shares in the last quarter. Institutional investors own 78.78% of the company’s stock.

RxSight Company Profile

(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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