RxSight, Inc. (NASDAQ:RXST) Receives $10.00 Average Price Target from Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have been given a consensus recommendation of “Reduce” by the thirteen analysts that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $10.00.

A number of analysts recently issued reports on RXST shares. Zacks Research raised RxSight from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Piper Sandler decreased their price target on RxSight from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. Morgan Stanley cut RxSight from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $20.00 to $9.00 in a research note on Tuesday, July 15th. Bank of America cut their price objective on RxSight from $18.00 to $9.00 and set an “underperform” rating for the company in a report on Wednesday, July 9th. Finally, Stifel Nicolaus lowered their target price on shares of RxSight from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Friday, August 8th.

Institutional Investors Weigh In On RxSight

Institutional investors and hedge funds have recently modified their holdings of the company. State of Wyoming grew its holdings in RxSight by 91.5% during the first quarter. State of Wyoming now owns 2,062 shares of the company’s stock worth $52,000 after purchasing an additional 985 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of RxSight in the second quarter valued at approximately $28,000. Bessemer Group Inc. bought a new position in shares of RxSight during the 2nd quarter worth approximately $33,000. Russell Investments Group Ltd. increased its holdings in shares of RxSight by 161.2% during the 1st quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company’s stock worth $103,000 after acquiring an additional 2,525 shares during the last quarter. Finally, CWM LLC raised its stake in RxSight by 614.1% in the 2nd quarter. CWM LLC now owns 4,520 shares of the company’s stock valued at $59,000 after acquiring an additional 3,887 shares during the period. 78.78% of the stock is owned by institutional investors.

RxSight Stock Up 3.5%

Shares of RXST stock opened at $8.53 on Friday. RxSight has a 12 month low of $6.32 and a 12 month high of $55.57. The company’s fifty day simple moving average is $8.75 and its 200-day simple moving average is $11.34. The firm has a market cap of $349.01 million, a PE ratio of -10.66 and a beta of 1.17.

RxSight (NASDAQ:RXST) last released its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). RxSight had a negative net margin of 21.93% and a negative return on equity of 11.56%. The business had revenue of $33.64 million during the quarter, compared to the consensus estimate of $39.78 million. During the same period last year, the business posted ($0.16) EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities analysts predict that RxSight will post -0.7 earnings per share for the current fiscal year.

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.