Stifel Nicolaus Lowers RxSight (NASDAQ:RXST) Price Target to $35.00

RxSight (NASDAQ:RXST) had its price objective cut by analysts at Stifel Nicolaus from $40.00 to $35.00 in a report issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 16.36% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $42.00 price target (down previously from $56.00) on shares of RxSight in a research report on Wednesday, December 11th. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of RxSight in a report on Monday. UBS Group started coverage on shares of RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 price target on the stock. Finally, Jefferies Financial Group started coverage on shares of RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price objective for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, RxSight presently has a consensus rating of “Moderate Buy” and an average target price of $58.13.

RxSight Stock Performance

Shares of NASDAQ:RXST opened at $30.08 on Monday. The company has a market capitalization of $1.21 billion, a PE ratio of -36.24 and a beta of 1.20. The stock has a fifty day moving average of $40.18 and a 200-day moving average of $47.17. RxSight has a one year low of $26.29 and a one year high of $66.54.

Insider Transactions at RxSight

In other news, Director Shweta Maniar sold 3,782 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total transaction of $173,518.16. Following the transaction, the director now directly owns 10,902 shares in the company, valued at $500,183.76. The trade was a 25.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jesse Anderson Corley acquired 11,111 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price of $45.37 per share, with a total value of $504,106.07. Following the completion of the acquisition, the director now owns 468,571 shares of the company’s stock, valued at $21,259,066.27. This represents a 2.43 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 37,902 shares of company stock valued at $1,805,478 over the last three months. 9.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RxSight

Several institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after buying an additional 521 shares during the last quarter. Quarry LP grew its position in RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after acquiring an additional 288 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of RxSight during the 3rd quarter worth $34,000. Quest Partners LLC bought a new position in shares of RxSight during the 2nd quarter valued at $41,000. Finally, KBC Group NV raised its holdings in shares of RxSight by 63.6% during the 3rd quarter. KBC Group NV now owns 1,232 shares of the company’s stock valued at $61,000 after purchasing an additional 479 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.