RxSight (NASDAQ:RXST) Raised to “Hold” at UBS Group

RxSight (NASDAQ:RXST) was upgraded by analysts at UBS Group to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group set a $6.50 price objective on shares of RxSight in a research note on Tuesday, July 7th. Wall Street Zen upgraded shares of RxSight from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Wells Fargo & Company lowered their target price on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Weiss Ratings lowered shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of RxSight in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, RxSight presently has a consensus rating of “Reduce” and a consensus target price of $8.50.

RxSight Price Performance

RxSight stock opened at $6.13 on Tuesday. The business has a 50 day simple moving average of $5.27 and a 200-day simple moving average of $6.80. RxSight has a 12 month low of $4.48 and a 12 month high of $13.22. The stock has a market capitalization of $253.78 million, a PE ratio of -5.42 and a beta of 1.15.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RXST. Millennium Management LLC boosted its position in shares of RxSight by 130.6% during the 3rd quarter. Millennium Management LLC now owns 2,193,062 shares of the company’s stock worth $19,716,000 after purchasing an additional 1,241,885 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of RxSight by 761.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,131,400 shares of the company’s stock valued at $6,969,000 after purchasing an additional 1,000,000 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of RxSight by 406.0% in the 3rd quarter. Bank of America Corp DE now owns 722,435 shares of the company’s stock valued at $6,495,000 after purchasing an additional 579,653 shares in the last quarter. UBS Group AG lifted its stake in shares of RxSight by 183.0% in the third quarter. UBS Group AG now owns 735,170 shares of the company’s stock valued at $6,609,000 after purchasing an additional 475,395 shares during the period. Finally, Nuveen LLC lifted its stake in shares of RxSight by 609.7% in the fourth quarter. Nuveen LLC now owns 531,730 shares of the company’s stock valued at $5,541,000 after purchasing an additional 456,803 shares during the period. Hedge funds and other institutional investors own 78.78% of the company’s stock.

About RxSight

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.