Brokerages Set RxSight, Inc. (NASDAQ:RXST) PT at $9.78

Shares of RxSight, Inc. (NASDAQ:RXST) have earned a consensus recommendation of “Reduce” from the thirteen research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $9.7778.

RXST has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. UBS Group reaffirmed a “neutral” rating on shares of RxSight in a research note on Monday, January 12th. Morgan Stanley lifted their price objective on shares of RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. Stifel Nicolaus set a $10.00 target price on shares of RxSight in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. lifted their price target on RxSight from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of RxSight by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock worth $552,000 after purchasing an additional 1,232 shares during the period. Larson Financial Group LLC boosted its position in shares of RxSight by 110.5% during the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after buying an additional 2,089 shares during the period. Legal & General Group Plc grew its stake in shares of RxSight by 5.0% during the second quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock valued at $579,000 after buying an additional 2,121 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of RxSight in the second quarter worth approximately $28,000. Finally, Bessemer Group Inc. bought a new stake in shares of RxSight during the 2nd quarter worth approximately $33,000. Institutional investors own 78.78% of the company’s stock.

RxSight Stock Performance

RXST stock opened at $9.11 on Monday. The company has a market capitalization of $374.60 million, a PE ratio of -10.35 and a beta of 1.14. The company’s fifty day moving average price is $10.89 and its 200-day moving average price is $9.39. RxSight has a one year low of $6.32 and a one year high of $34.71.

RxSight (NASDAQ:RXST) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.15. The business had revenue of $30.34 million for the quarter, compared to analysts’ expectations of $25.63 million. RxSight had a negative net margin of 25.15% and a negative return on equity of 12.82%. The business’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.16) EPS. On average, research analysts predict that RxSight will post -0.7 EPS for the current fiscal year.

RxSight Company Profile

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.