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

RxSight, Inc. (NASDAQ:RXST) has received a consensus recommendation of “Reduce” from the fifteen brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $9.4444.

Several equities analysts have commented on the stock. Needham & Company LLC lowered their target price on shares of RxSight from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. 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 research report on Thursday, May 7th. UBS Group increased their target price on shares of RxSight from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Weiss Ratings raised shares of RxSight from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Finally, Piper Sandler lowered their target price on shares of RxSight from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, February 26th.

Institutional Investors Weigh In On RxSight

Hedge funds have recently bought and sold shares of the company. Meridiem Capital Partners LP bought a new stake in RxSight during the third quarter valued at about $1,564,000. Quantbot Technologies LP boosted its holdings in RxSight by 168.7% during the third quarter. Quantbot Technologies LP now owns 146,248 shares of the company’s stock valued at $1,315,000 after acquiring an additional 91,815 shares during the period. JPMorgan Chase & Co. boosted its holdings in RxSight by 201.3% during the third quarter. JPMorgan Chase & Co. now owns 102,882 shares of the company’s stock valued at $925,000 after acquiring an additional 68,735 shares during the period. Palumbo Wealth Management LLC boosted its holdings in RxSight by 28.5% during the fourth quarter. Palumbo Wealth Management LLC now owns 30,789 shares of the company’s stock valued at $321,000 after acquiring an additional 6,822 shares during the period. Finally, Sugar Maple Asset Management LLC bought a new stake in RxSight during the fourth quarter valued at about $249,000. 78.78% of the stock is currently owned by institutional investors.

RxSight Price Performance

RxSight stock opened at $5.33 on Friday. The company has a market capitalization of $220.65 million, a price-to-earnings ratio of -4.72 and a beta of 1.24. RxSight has a one year low of $5.30 and a one year high of $16.48. The company’s fifty day moving average price is $6.52 and its two-hundred day moving average price is $8.61.

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.