RxSight (NASDAQ:RXST) Cut to Sell at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of RxSight (NASDAQ:RXST – Free Report) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other equities research analysts have also recently weighed in on RXST. Wells Fargo & Company cut shares of RxSight from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $25.00 to $9.00 in a research note on Wednesday, July 9th. UBS Group cut shares of RxSight from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $45.00 to $16.00 in a research report on Wednesday, April 9th. Piper Sandler dropped their price target on shares of RxSight from $18.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 9th. Bank of America dropped their price target on shares of RxSight from $18.00 to $9.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of RxSight in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.90.

Check Out Our Latest Report on RxSight

RxSight Stock Performance

Shares of RXST opened at $7.74 on Friday. RxSight has a 1 year low of $6.32 and a 1 year high of $58.23. The firm has a fifty day moving average of $13.83 and a 200-day moving average of $21.66. The company has a market cap of $314.53 million, a price-to-earnings ratio of -11.55 and a beta of 1.21.

RxSight (NASDAQ:RXST – Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). RxSight had a negative net margin of 17.90% and a negative return on equity of 9.54%. The business had revenue of $37.90 million for the quarter, compared to analysts’ expectations of $38.74 million. During the same period in the previous year, the business earned ($0.25) earnings per share. The company’s revenue was up 28.5% on a year-over-year basis. Analysts predict that RxSight will post -0.7 EPS for the current year.

Hedge Funds Weigh In On RxSight

Several institutional investors and hedge funds have recently bought and sold shares of RXST. T. Rowe Price Investment Management Inc. grew its stake in RxSight by 885.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 719,818 shares of the company’s stock valued at $18,176,000 after acquiring an additional 646,791 shares in the last quarter. Royal Bank of Canada grew its stake in RxSight by 3,094.6% during the 4th quarter. Royal Bank of Canada now owns 508,491 shares of the company’s stock valued at $17,481,000 after acquiring an additional 492,574 shares in the last quarter. DF Dent & Co. Inc. purchased a new position in RxSight during the 4th quarter valued at about $14,524,000. Bank of America Corp DE grew its stake in RxSight by 23.7% during the 4th quarter. Bank of America Corp DE now owns 2,159,923 shares of the company’s stock valued at $74,258,000 after acquiring an additional 413,737 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in RxSight by 32.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock valued at $53,345,000 after acquiring an additional 381,389 shares in the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Company Profile

(Get Free Report)

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.

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