RxSight (NASDAQ:RXST) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of RxSight (NASDAQ:RXST) from an equal weight rating to an overweight rating in a report issued on Monday morning, MarketBeat.com reports. They currently have $25.00 price objective on the stock, up from their previous price objective of $17.00.

Several other research analysts have also weighed in on the company. Stifel Nicolaus lowered their price objective on RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, March 19th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $17.00 price objective (down from $40.00) on shares of RxSight in a report on Friday, April 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 target price on shares of RxSight in a research report on Thursday, April 3rd. UBS Group lowered shares of RxSight from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $45.00 to $16.00 in a report on Wednesday, April 9th. Finally, Bank of America reaffirmed an “underperform” rating and set a $22.00 price objective (down previously from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.90.

RxSight Trading Down 3.7%

Shares of RXST opened at $16.01 on Monday. RxSight has a 12-month low of $12.53 and a 12-month high of $64.50. The firm has a market capitalization of $650.60 million, a P/E ratio of -19.29 and a beta of 1.32. The firm has a 50-day moving average price of $17.52 and a 200 day moving average price of $29.53.

RxSight (NASDAQ:RXST) last posted its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $37.90 million for the quarter, compared to analyst estimates of $38.74 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. RxSight’s revenue was up 28.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.25) EPS. Equities research analysts predict that RxSight will post -0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RxSight news, Director Tamara Fountain sold 7,000 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through this link. Insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RXST. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in RxSight by 9.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company’s stock valued at $2,358,000 after buying an additional 8,424 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of RxSight by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock worth $7,838,000 after buying an additional 113,767 shares during the last quarter. Parkman Healthcare Partners LLC raised its stake in RxSight by 109.9% during the 1st quarter. Parkman Healthcare Partners LLC now owns 631,238 shares of the company’s stock worth $15,939,000 after acquiring an additional 330,540 shares in the last quarter. Petrus Trust Company LTA grew its holdings in shares of RxSight by 5.0% during the first quarter. Petrus Trust Company LTA now owns 19,651 shares of the company’s stock worth $496,000 after purchasing an additional 938 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of RxSight by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock valued at $552,000 after purchasing an additional 1,232 shares during the last quarter. Institutional investors and hedge funds 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.