Wells Fargo & Company Cuts RxSight (NASDAQ:RXST) Price Target to $35.00

RxSight (NASDAQ:RXST) had its price objective cut by Wells Fargo & Company from $40.00 to $35.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts also recently issued reports on RXST. UBS Group assumed coverage on shares of RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective on the stock. Stifel Nicolaus lowered their price target on shares of RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday, January 13th. Jefferies Financial Group initiated coverage on shares of RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $43.00 price objective on shares of RxSight in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.63.

RxSight Stock Down 0.8 %

Shares of NASDAQ:RXST opened at $28.97 on Wednesday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -34.90 and a beta of 1.19. RxSight has a 12 month low of $26.29 and a 12 month high of $66.54. The company’s fifty day simple moving average is $32.61 and its 200 day simple moving average is $43.37.

RxSight (NASDAQ:RXST) last issued its quarterly 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 the consensus estimate of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. Research analysts expect that RxSight will post -0.7 earnings per share for the current fiscal year.

Insider Transactions at RxSight

In other RxSight news, Director Jesse Anderson Corley acquired 1,443 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was bought at an average cost of $31.18 per share, with a total value of $44,992.74. Following the completion of the transaction, the director now directly owns 1,443 shares in the company, valued at approximately $44,992.74. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ilya Goldshleger sold 3,105 shares of the business’s stock in a transaction that occurred on 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 directly 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 disclosure for this sale can be found here. 9.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On RxSight

Several hedge funds have recently added to or reduced their stakes in RXST. RA Capital Management L.P. increased its holdings in shares of RxSight by 6.0% in the third quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock valued at $193,609,000 after purchasing an additional 222,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of RxSight by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company’s stock worth $81,946,000 after buying an additional 96,464 shares during the period. Bank of America Corp DE boosted its holdings in shares of RxSight by 23.7% during the 4th quarter. Bank of America Corp DE now owns 2,159,923 shares of the company’s stock worth $74,258,000 after buying an additional 413,737 shares during the period. Artisan Partners Limited Partnership grew its stake in RxSight by 32.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock valued at $53,345,000 after buying an additional 381,389 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in RxSight by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 830,758 shares of the company’s stock valued at $28,568,000 after acquiring an additional 13,641 shares during the period. Institutional investors and hedge funds 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.