RxSight (NASDAQ:RXST) Price Target Lowered to $33.00 at Stifel Nicolaus

RxSight (NASDAQ:RXST) had its target price lowered by stock analysts at Stifel Nicolaus from $35.00 to $33.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 19.48% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. UBS Group assumed coverage on shares of RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective for the company. Jefferies Financial Group assumed coverage on RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price target on shares of RxSight in a report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.38.

RxSight Trading Down 5.7 %

Shares of RXST stock opened at $27.62 on Wednesday. RxSight has a 12 month low of $26.29 and a 12 month high of $66.54. The stock has a market cap of $1.11 billion, a P/E ratio of -32.89 and a beta of 1.19. The company has a 50 day simple moving average of $32.78 and a two-hundred day simple moving average of $43.47.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share (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 the consensus estimate of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. As a group, equities analysts forecast that RxSight will post -0.7 earnings per share for the current year.

Insiders Place Their Bets

In other RxSight news, insider Ilya Goldshleger sold 3,105 shares of RxSight stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $46.08, for a total value of $143,078.40. Following the transaction, the insider now owns 42,246 shares in the company, valued at $1,946,695.68. The trade was a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shweta Maniar sold 3,519 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total transaction of $108,631.53. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at $227,913.21. This represents a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RXST. Nisa Investment Advisors LLC boosted its stake in RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after acquiring an additional 521 shares in the last quarter. Quarry LP grew its stake in RxSight by 82.3% during 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 last quarter. Point72 Hong Kong Ltd purchased a new stake in RxSight in the third quarter valued at about $34,000. Private Trust Co. NA purchased a new stake in shares of RxSight during the fourth quarter valued at $34,000. Finally, State of Wyoming purchased a new position in RxSight during the 4th quarter worth approximately $37,000. Institutional investors own 78.78% of the company’s stock.

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.