RxSight (NASDAQ:RXST) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of RxSight (NASDAQ:RXST) from a sell rating to a hold rating in a research report report published on Sunday,Wall Street Zen reports.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group set a $6.50 target price on shares of RxSight in a research report on Tuesday, July 7th. Stifel Nicolaus decreased their price target on shares of RxSight from $8.00 to $7.00 and set a “hold” rating for the company in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RxSight in a report on Tuesday, September 8th. Bank of America lowered their price objective on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Finally, UBS Group boosted their price objective on shares of RxSight from $5.50 to $6.30 and gave the company a “neutral” rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $8.17.

RxSight Stock Performance

Shares of NASDAQ RXST opened at $4.93 on Friday. The company has a market cap of $205.04 million, a PE ratio of -4.36 and a beta of 1.16. The business has a 50-day simple moving average of $6.12 and a two-hundred day simple moving average of $6.12. RxSight has a fifty-two week low of $4.48 and a fifty-two week high of $13.22.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. The business had revenue of $33.74 million for the quarter, compared to analyst estimates of $32.55 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. On average, sell-side analysts predict that RxSight will post -1.03 earnings per share for the current fiscal year.

Insider Transactions at RxSight

In related news, insider Ronald M. Md Kurtz sold 5,100 shares of RxSight stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total value of $35,496.00. Following the completion of the transaction, the insider owned 71,775 shares in the company, valued at $499,554. The trade was a 6.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Wilterding sold 7,765 shares of RxSight stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total value of $54,044.40. Following the completion of the transaction, the chief financial officer owned 25,049 shares of the company’s stock, valued at approximately $174,341.04. This represents a 23.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 16,947 shares of company stock valued at $117,951. Insiders own 10.05% of the company’s stock.

Institutional Trading of RxSight

A number of institutional investors and hedge funds have recently made changes to their positions in RXST. Caitong International Asset Management Co. Ltd increased its position in shares of RxSight by 511.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,249 shares of the company’s stock worth $44,000 after acquiring an additional 3,554 shares during the period. Summit Securities Group LLC purchased a new position in RxSight in the first quarter valued at $30,000. Rockefeller Capital Management L.P. grew its stake in RxSight by 27.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 23,848 shares of the company’s stock worth $248,000 after purchasing an additional 5,203 shares in the last quarter. Corient Private Wealth LLC grew its stake in RxSight by 19.7% during the 4th quarter. Corient Private Wealth LLC now owns 36,095 shares of the company’s stock worth $376,000 after purchasing an additional 5,933 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in RxSight by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 100,306 shares of the company’s stock worth $618,000 after purchasing an additional 5,978 shares during the period. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

About RxSight

RxSight, Inc is a medical technology company focused on improving visual outcomes for patients undergoing cataract surgery. The company develops and commercializes ophthalmic products that allow surgeons to adjust a patient’s vision after surgery rather than relying solely on preoperative measurements and the initial implanted lens.

Its primary products include the RxSight Light Adjustable Lens and the RxSight Light Delivery Device. The lens is implanted during cataract surgery and can be adjusted after surgery through controlled ultraviolet-light treatments delivered by the company’s device.