RxSight (NASDAQ:RXST) Now Covered by Analysts at Piper Sandler

Piper Sandler began coverage on shares of RxSight (NASDAQ:RXST) in a research note published on Tuesday, Marketbeat Ratings reports. The firm issued a neutral rating and a $18.00 price target on the stock.

Several other research analysts have also issued reports on the stock. Wells Fargo & Company cut their target price on shares of RxSight from $35.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, April 3rd. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $17.00 price objective (down from $40.00) on shares of RxSight in a research report on Friday, April 4th. Needham & Company LLC restated a “buy” rating and issued a $43.00 target price on shares of RxSight in a research report on Thursday, April 3rd. Stifel Nicolaus reduced their price target on shares of RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, March 19th. Finally, UBS Group lowered shares of RxSight from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $45.00 to $16.00 in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.60.

RxSight Stock Up 1.4 %

Shares of NASDAQ RXST opened at $14.62 on Tuesday. The firm has a market capitalization of $591.98 million, a P/E ratio of -17.61 and a beta of 1.26. The stock’s 50-day simple moving average is $24.85 and its two-hundred day simple moving average is $35.75. RxSight has a twelve month low of $13.50 and a twelve month high of $66.54.

RxSight (NASDAQ:RXST) last announced its earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The company had revenue of $40.21 million during the quarter, compared to analysts’ expectations of $40.23 million. As a group, research analysts anticipate that RxSight will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Shweta Maniar sold 3,519 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the sale, the director now owns 7,383 shares of the company’s stock, valued at $227,913.21. This trade represents a 32.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tamara Fountain sold 7,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the transaction, the director now directly owns 24,793 shares in the company, valued at approximately $637,428.03. The trade was a 22.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.36% of the stock is owned by insiders.

Institutional Investors Weigh In On RxSight

A number of large investors have recently modified their holdings of the stock. Private Trust Co. NA purchased a new stake in RxSight in the fourth quarter worth about $34,000. State of Wyoming bought a new position in shares of RxSight in the 4th quarter worth approximately $37,000. Coppell Advisory Solutions LLC lifted its stake in shares of RxSight by 108.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company’s stock valued at $44,000 after purchasing an additional 672 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of RxSight in the 4th quarter valued at approximately $46,000. Finally, Harbor Investment Advisory LLC purchased a new stake in RxSight in the fourth quarter worth $52,000. 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.