RxSight (NASDAQ:RXST) Given New $7.00 Price Target at Needham & Company LLC

RxSight (NASDAQ:RXST) had its price target trimmed by Needham & Company LLC from $11.00 to $7.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. UBS Group boosted their target price on shares of RxSight from $5.50 to $6.30 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Wall Street Zen downgraded shares of RxSight from a “hold” rating to a “sell” rating in a report on Sunday, October 25th. Bank of America cut their price target on shares of RxSight from $6.50 to $5.50 and set an “underperform” rating on the stock in a report on Tuesday, September 22nd. Stifel Nicolaus reduced their price objective on shares of RxSight from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Monday, August 10th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of RxSight in a report on Tuesday, September 8th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, RxSight has an average rating of “Reduce” and an average price target of $7.17.

RxSight Price Performance

RXST opened at $4.99 on Wednesday. The company has a market capitalization of $207.53 million, a PE ratio of -3.90 and a beta of 1.21. The business has a 50-day moving average of $5.30 and a 200-day moving average of $6.31. RxSight has a fifty-two week low of $4.11 and a fifty-two week high of $13.22.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08). The firm had revenue of $24.59 million during the quarter, compared to analyst estimates of $27.19 million. RxSight had a negative return on equity of 19.85% and a negative net margin of 43.80%. On average, equities research analysts expect that RxSight will post -1.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider M Kurtz sold 5,100 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total value of $35,496.00. Following the completion of the sale, the insider directly owned 71,775 shares in the company, valued at approximately $499,554. The trade was a 6.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Wilterding sold 7,765 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total value of $54,044.40. Following the sale, the chief financial officer directly owned 25,049 shares of the company’s stock, valued at $174,341.04. The trade was a 23.66% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 16,947 shares of company stock worth $117,951 over the last three months. 10.05% of the stock is owned by company insiders.

Institutional Trading of RxSight

A number of institutional investors and hedge funds have recently modified their holdings of RXST. BlackRock Inc. acquired a new position in RxSight in the 2nd quarter valued at $27,910,000. Bank of America Corp DE lifted its position in RxSight by 30.3% during the 1st quarter. Bank of America Corp DE now owns 1,210,039 shares of the company’s stock worth $7,454,000 after acquiring an additional 281,426 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in RxSight by 761.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,131,400 shares of the company’s stock worth $6,969,000 after acquiring an additional 1,000,000 shares during the last quarter. Grandeur Peak Global Advisors LLC bought a new stake in RxSight during the second quarter valued at about $3,482,000. Finally, Deutsche Bank AG bought a new stake in RxSight during the second quarter valued at about $2,604,000. 78.78% of the stock is currently owned by institutional investors and hedge funds.

More RxSight News

Here are the key news stories impacting RxSight this week:

• Positive Sentiment: On an adjusted basis, RxSight reported a Q3 loss of $0.21 per share, narrower than Zacks’ consensus estimate of a $0.29 loss. However, that was still a larger loss than the $0.04 per share reported a year earlier. Read More.
• Neutral Sentiment: RxSight said the earliest timing for its next-generation light-adjustable lens is 2028 and indicated it plans to resume providing 2027 guidance. The long timeline leaves investors waiting for clearer near-term growth expectations. Read More.
• Negative Sentiment: Q3 revenue was $24.59 million, below the $27.19 million analyst estimate and down 19% year over year; the company’s net loss widened to $16.2 million. Another earnings report cited a $0.39-per-share loss, missing its $0.31 consensus estimate. These results raise concerns about demand and the pace of improvement. Read More. · Read More.
• Negative Sentiment: Piper Sandler cut its price target from $10 to $8 and kept a neutral rating; Needham lowered its target from $11 to $7 while retaining a buy rating. Although both targets remain above the cited share price, the reductions signal more cautious expectations. Read More. · Read More.

About RxSight

RxSight, Inc is a medical technology company focused on improving visual outcomes for patients undergoing cataract surgery. The company develops and commercializes ophthalmic products that allow surgeons to customize a patient’s vision after surgery.

Its primary product is the RxSight Light Adjustable Lens, an intraocular lens implanted during cataract surgery. After implantation, the lens can be adjusted using ultraviolet light treatments delivered by the company’s Light Delivery Device, enabling physicians to refine the lens power based on the patient’s postoperative visual needs.