RxSight (NASDAQ:RXST) Rating Lowered to Hold at Stifel Nicolaus

RxSight (NASDAQ:RXST) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, MarketBeat reports. They presently have a $40.00 target price on the stock, down from their previous target price of $65.00. Stifel Nicolaus’ price objective indicates a potential upside of 18.84% from the company’s current price.

Several other research analysts also recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of RxSight in a research note on Friday, September 13th. UBS Group assumed coverage on RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 price target on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $42.00 price objective (down from $56.00) on shares of RxSight in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group initiated coverage on shares of RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RxSight has a consensus rating of “Moderate Buy” and an average target price of $59.00.

RxSight Stock Down 11.9 %

NASDAQ:RXST opened at $33.66 on Friday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -40.55 and a beta of 1.11. RxSight has a 52 week low of $33.03 and a 52 week high of $66.54. The firm has a 50 day moving average of $45.75 and a 200 day moving average of $50.09.

Insider Activity at RxSight

In other news, Director Shweta Maniar sold 3,782 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total transaction of $173,518.16. Following the sale, the director now owns 10,902 shares of the company’s stock, valued at $500,183.76. This trade represents a 25.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ilya Goldshleger sold 3,100 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $52.67, for a total transaction of $163,277.00. Following the completion of the transaction, the insider now owns 42,246 shares of the company’s stock, valued at approximately $2,225,096.82. This represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,707 shares of company stock worth $3,037,386 over the last three months. Company insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after acquiring an additional 371 shares during the period. Nisa Investment Advisors LLC grew its holdings in RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after purchasing an additional 521 shares during the period. Quarry LP increased its position in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of RxSight during the 3rd quarter worth approximately $34,000. Finally, Quest Partners LLC purchased a new position in shares of RxSight during the 2nd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

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.