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

Shares of RxSight, Inc. (NASDAQ:RXST) have been given an average recommendation of “Reduce” by the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $9.7778.

Several brokerages have weighed in on RXST. Needham & Company LLC lifted their price target on shares of RxSight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. UBS Group reissued a “neutral” rating on shares of RxSight in a research report on Monday, January 12th. Wells Fargo & Company upped their target price on RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Morgan Stanley increased their price target on RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of RxSight in a research note on Wednesday, October 8th.

RxSight Stock Performance

Shares of RxSight stock opened at $9.51 on Monday. The company has a market capitalization of $391.05 million, a PE ratio of -10.81 and a beta of 1.14. The company has a 50-day simple moving average of $10.91 and a two-hundred day simple moving average of $9.37. RxSight has a one year low of $6.32 and a one year high of $34.71.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue was down 31.4% compared to the same quarter last year. During the same period last year, the business earned ($0.16) EPS. On average, equities analysts predict that RxSight will post -0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. increased its stake in RxSight by 1.0% during the 4th quarter. Baillie Gifford & Co. now owns 693,146 shares of the company’s stock valued at $7,223,000 after purchasing an additional 6,830 shares in the last quarter. Palumbo Wealth Management LLC grew its holdings in shares of 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 buying an additional 6,822 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new position in shares of RxSight in the 4th quarter valued at $249,000. JPMorgan Chase & Co. increased its position in shares of RxSight by 201.3% in the 3rd 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. Finally, Susquehanna International Group LLP raised its stake in RxSight by 8.0% in the 3rd quarter. Susquehanna International Group LLP now owns 49,835 shares of the company’s stock worth $448,000 after acquiring an additional 3,684 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

About RxSight

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.