RxSight (NASDAQ:RXST) Price Target Cut to $28.00 by Analysts at Stifel Nicolaus

RxSight (NASDAQ:RXST) had its target price cut by equities researchers at Stifel Nicolaus from $33.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 12.45% from the stock’s previous close.

Several other brokerages have also issued reports on RXST. JPMorgan Chase & Co. decreased their price objective on RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. UBS Group began coverage on RxSight in a research report on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price objective on shares of RxSight in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company cut their target price on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.00.

RxSight Trading Up 0.2 %

RxSight stock opened at $24.90 on Wednesday. The firm has a market capitalization of $1.01 billion, a P/E ratio of -30.00 and a beta of 1.22. RxSight has a 1 year low of $24.38 and a 1 year high of $66.54. The business has a 50-day moving average of $29.80 and a 200-day moving average of $40.36.

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

Insider Buying and Selling at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the sale, the director now owns 24,793 shares in the company, valued at $637,428.03. This represents a 22.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Shweta Maniar sold 3,519 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 7,383 shares in the company, valued at approximately $227,913.21. This represents a 32.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

A number of large investors have recently added to or reduced their stakes in RXST. Principal Financial Group Inc. grew its holdings in RxSight by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock valued at $1,782,000 after buying an additional 240 shares in the last quarter. Quarry LP grew its holdings in RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares in the last quarter. Mountain Capital Investment Advisors Inc. grew its holdings in RxSight by 3.8% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock valued at $302,000 after buying an additional 320 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in RxSight by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock valued at $1,034,000 after buying an additional 399 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in RxSight by 1.7% in the 4th quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock valued at $914,000 after buying an additional 445 shares in the last quarter. 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.