RxSight, Inc. (NASDAQ:RXST) Receives Average Recommendation of “Reduce” from Analysts

RxSight, Inc. (NASDAQ:RXST) has earned a consensus rating of “Reduce” from the fifteen research firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $9.7778.

RXST has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of RxSight from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. William Blair initiated coverage on shares of RxSight in a report on Friday, January 30th. They set a “market perform” rating for the company. Wells Fargo & Company boosted their target price 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 report on Monday, January 12th. Finally, Piper Sandler lifted their price objective on RxSight from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th.

RxSight Price Performance

RxSight stock opened at $8.40 on Friday. The firm has a market capitalization of $345.41 million, a P/E ratio of -9.55 and a beta of 1.14. The stock has a fifty day moving average price of $9.84 and a two-hundred day moving average price of $9.44. RxSight has a 52-week low of $6.32 and a 52-week high of $31.00.

Institutional Investors Weigh In On RxSight

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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 buying an additional 1,232 shares during the period. Invesco Ltd. increased its position in shares of RxSight by 6.6% during the fourth quarter. Invesco Ltd. now owns 20,114 shares of the company’s stock worth $210,000 after acquiring an additional 1,249 shares in the last quarter. Verition Fund Management LLC raised its holdings in shares of RxSight by 4.4% during the fourth quarter. Verition Fund Management LLC now owns 40,613 shares of the company’s stock worth $423,000 after acquiring an additional 1,701 shares during the period. Larson Financial Group LLC lifted its position in RxSight by 110.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after acquiring an additional 2,089 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in RxSight by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock worth $579,000 after purchasing an additional 2,121 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.

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.