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

Shares of RxSight, Inc. (NASDAQ:RXST) have been given an average recommendation of “Reduce” by the fifteen analysts that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $9.4444.

RXST has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Wells Fargo & Company reduced their price objective on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th. UBS Group increased their price objective on shares of RxSight from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Stifel Nicolaus reduced their price objective on shares of RxSight from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Monday, March 9th. Finally, Needham & Company LLC reduced their price objective on shares of RxSight from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in RxSight during the 2nd quarter valued at $28,000. Caitong International Asset Management Co. Ltd boosted its stake in RxSight by 440.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock valued at $39,000 after acquiring an additional 3,063 shares during the last quarter. CWM LLC boosted its stake in RxSight by 211.1% during the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock valued at $40,000 after acquiring an additional 2,596 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of RxSight by 110.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock worth $36,000 after buying an additional 2,089 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of RxSight in the 1st quarter worth about $30,000. 78.78% of the stock is currently owned by institutional investors.

RxSight Trading Up 1.7%

Shares of RXST stock opened at $5.31 on Thursday. RxSight has a twelve month low of $4.48 and a twelve month high of $13.96. The company has a market capitalization of $219.83 million, a PE ratio of -4.70 and a beta of 1.14. The firm has a fifty day simple moving average of $5.90 and a 200-day simple moving average of $7.87.

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.