RxSight (NASDAQ:RXST) Lowered to Hold Rating by Stifel Nicolaus

Stifel Nicolaus cut shares of RxSight (NASDAQ:RXST) from a buy rating to a hold rating in a research note published on Friday morning, MarketBeat Ratings reports. They currently have $40.00 price target on the stock, down from their previous price target of $65.00.

Several other research analysts have also recently commented on RXST. Wells Fargo & Company reiterated an “equal weight” rating and issued a $42.00 target price (down from $56.00) on shares of RxSight in a report on Wednesday, December 11th. UBS Group assumed coverage on RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of RxSight in a research report on Friday, September 13th. Finally, Jefferies Financial Group assumed coverage on RxSight in a report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

RxSight Stock Performance

NASDAQ RXST opened at $33.66 on Friday. The stock has a market capitalization of $1.36 billion, a P/E ratio of -40.55 and a beta of 1.11. The business’s fifty day moving average is $45.75 and its two-hundred day moving average is $50.09. RxSight has a 1 year low of $33.03 and a 1 year high of $66.54.

Insider Transactions at RxSight

In related news, Director Jesse Anderson Corley purchased 11,111 shares of the stock in a transaction on Tuesday, November 12th. The shares were bought at an average price of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the acquisition, the director now directly owns 468,571 shares in the company, valued at approximately $21,259,066.27. This trade represents a 2.43 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ilya Goldshleger sold 3,100 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $52.67, for a total transaction of $163,277.00. Following the completion of the sale, the insider now owns 42,246 shares of the company’s stock, valued at $2,225,096.82. The trade was a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,707 shares of company stock worth $3,037,386 in the last 90 days. 9.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. CWM LLC grew its position in shares of RxSight by 727.5% in the second quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after purchasing an additional 371 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in RxSight by 854.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after buying an additional 521 shares during the last quarter. Quarry LP increased its position in RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after buying an additional 288 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of RxSight during the third quarter worth approximately $34,000. Finally, Quest Partners LLC bought a new stake in shares of RxSight in the second quarter valued at approximately $41,000. Institutional investors own 78.78% of the company’s stock.

RxSight Company Profile

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.