Brokerages Set RxSight, Inc. (NASDAQ:RXST) Price Target at $37.60

RxSight, Inc. (NASDAQ:RXST) has been given an average recommendation of “Hold” by the ten ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $37.60.

Several equities research analysts recently issued reports on RXST shares. Stifel Nicolaus dropped their target price on shares of RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, March 19th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $17.00 price target (down from $40.00) on shares of RxSight in a research report on Friday, April 4th. Wells Fargo & Company decreased their price target on shares of RxSight from $35.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 3rd. Piper Sandler initiated coverage on shares of RxSight in a research report on Tuesday, April 15th. They issued a “neutral” rating and a $18.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price target on shares of RxSight in a research report on Thursday, April 3rd.

Insider Activity

In other news, Director Tamara Fountain sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the transaction, the director now owns 24,793 shares in the company, valued at $637,428.03. This trade represents a 22.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of RxSight by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company’s stock worth $81,946,000 after purchasing an additional 96,464 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of RxSight by 23.7% in the fourth quarter. Bank of America Corp DE now owns 2,159,923 shares of the company’s stock worth $74,258,000 after purchasing an additional 413,737 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of RxSight by 32.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock worth $53,345,000 after purchasing an additional 381,389 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of RxSight by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 830,758 shares of the company’s stock worth $28,568,000 after purchasing an additional 13,641 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of RxSight by 1.6% in the fourth quarter. Deutsche Bank AG now owns 657,224 shares of the company’s stock worth $22,595,000 after purchasing an additional 10,634 shares during the last quarter. 78.78% of the stock is owned by institutional investors.

RxSight Trading Down 2.6 %

Shares of RXST stock opened at $14.56 on Friday. RxSight has a 12-month low of $13.50 and a 12-month high of $66.54. The firm’s 50 day moving average is $21.82 and its 200 day moving average is $33.50. The stock has a market capitalization of $591.43 million, a P/E ratio of -17.54 and a beta of 1.26.

RxSight (NASDAQ:RXST) last issued its earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.25). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The company had revenue of $40.21 million during the quarter, compared to analysts’ expectations of $40.23 million. As a group, equities analysts predict that RxSight will post -0.7 earnings per share for the current year.

RxSight Company Profile

RxSight, Inc, a commercial-stage medical device company, engages in the research and development, manufacture, and sale of light adjustable intraocular lenses (LAL) used in cataract surgery in the United States and internationally. It offers RxSight system that enables doctors to customize and enhance the visual acuity for patients after cataract surgery.