Stifel Nicolaus Has Lowered Expectations for RxSight (NASDAQ:RXST) Stock Price

RxSight (NASDAQ:RXST) had its price target cut by Stifel Nicolaus from $35.00 to $33.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other research firms also recently commented on RXST. Wells Fargo & Company decreased their target price on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Jefferies Financial Group initiated coverage on RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $43.00 price objective on shares of RxSight in a research report on Wednesday. Finally, UBS Group initiated coverage on RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.63.

RxSight Trading Up 0.5 %

NASDAQ:RXST opened at $28.36 on Wednesday. The company has a market capitalization of $1.14 billion, a P/E ratio of -34.17 and a beta of 1.19. RxSight has a 12 month low of $26.29 and a 12 month high of $66.54. The business’s 50-day moving average is $32.31 and its 200 day moving average is $43.10.

RxSight (NASDAQ:RXST) last posted its earnings results on Tuesday, February 25th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). The firm had revenue of $40.21 million during the quarter, compared to analysts’ expectations of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. On average, research analysts forecast that RxSight will post -0.7 earnings per share for the current year.

Insider Activity

In other RxSight news, Director Shweta Maniar sold 3,519 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jesse Anderson Corley purchased 1,443 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were bought at an average cost of $31.18 per share, with a total value of $44,992.74. Following the purchase, the director now directly owns 1,443 shares of the company’s stock, valued at approximately $44,992.74. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RXST. Nisa Investment Advisors LLC lifted its holdings in shares of RxSight by 854.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after buying an additional 521 shares during the period. Quarry LP raised its holdings in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in RxSight in the third quarter worth about $34,000. Private Trust Co. NA bought a new position in RxSight during the 4th quarter worth about $34,000. Finally, State of Wyoming purchased a new position in RxSight during the 4th quarter valued at about $37,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

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.