RxSight (NASDAQ:RXST) Price Target Raised to $6.30 at UBS Group

RxSight (NASDAQ:RXST) had its price objective boosted by UBS Group from $5.50 to $6.30 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 5.09% from the stock’s current price.

A number of other research firms have also issued reports on RXST. Bank of America reduced their target price on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating on the stock in a research report on Tuesday, July 7th. Wall Street Zen upgraded RxSight from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Weiss Ratings lowered RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Jefferies Financial Group set a $6.50 price target on shares of RxSight in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company lowered their price objective on RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $8.59.

RxSight Stock Down 4.7%

Shares of RxSight stock traded down $0.29 during trading hours on Thursday, hitting $6.00. The company’s stock had a trading volume of 1,027,613 shares, compared to its average volume of 977,674. The business has a fifty day moving average of $5.29 and a 200 day moving average of $6.67. RxSight has a 1-year low of $4.48 and a 1-year high of $13.22. The company has a market capitalization of $248.18 million, a PE ratio of -5.30 and a beta of 1.13.

RxSight (NASDAQ:RXST) last issued its earnings results on Wednesday, August 5th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.22. RxSight had a negative return on equity of 17.01% and a negative net margin of 36.58%.The company had revenue of $33.74 million during the quarter, compared to the consensus estimate of $32.55 million. On average, sell-side analysts anticipate that RxSight will post -1.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RXST. Raymond James Financial Inc. bought a new stake in RxSight in the second quarter valued at $28,000. Summit Securities Group LLC bought a new stake in shares of RxSight in the first quarter worth about $30,000. Larson Financial Group LLC increased its holdings in RxSight by 110.5% during the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock worth $36,000 after purchasing an additional 2,089 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of RxSight by 440.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock worth $39,000 after acquiring an additional 3,063 shares in the last quarter. Finally, CWM LLC grew its stake in shares of RxSight by 211.1% in the fourth quarter. CWM LLC now owns 3,826 shares of the company’s stock valued at $40,000 after buying an additional 2,596 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

About RxSight

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non?invasive post?operative adjustments. Using ultraviolet light, surgeons can fine?tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.