Wells Fargo & Company Has Lowered Expectations for RxSight (NASDAQ:RXST) Stock Price

RxSight (NASDAQ:RXST) had its price objective reduced by Wells Fargo & Company from $42.00 to $40.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $66.00 target price on shares of RxSight in a research note on Monday. Jefferies Financial Group began coverage on RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price for the company. Stifel Nicolaus decreased their price target on shares of RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday. Finally, UBS Group began coverage on shares of RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.13.

RxSight Stock Down 8.1 %

RxSight stock opened at $30.72 on Monday. The company’s 50-day moving average price is $40.61 and its two-hundred day moving average price is $47.38. The stock has a market cap of $1.24 billion, a P/E ratio of -37.01 and a beta of 1.20. RxSight has a twelve month low of $26.29 and a twelve month high of $66.54.

Insider Buying and Selling

In other RxSight news, Director Jesse Anderson Corley bought 11,111 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was purchased at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the purchase, the director now directly owns 468,571 shares of the company’s stock, valued at approximately $21,259,066.27. This trade represents a 2.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shweta Maniar sold 3,782 shares of RxSight stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value of $173,518.16. Following the completion of the transaction, the director now owns 10,902 shares in the company, valued at approximately $500,183.76. The trade was a 25.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,002 shares of company stock valued at $1,959,796 over the last quarter. 9.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RXST. Geode Capital Management LLC grew its holdings in shares of RxSight by 17.7% during the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock valued at $40,398,000 after purchasing an additional 122,775 shares during the last quarter. Victory Capital Management Inc. boosted its position in RxSight by 21.0% in the third quarter. Victory Capital Management Inc. now owns 259,864 shares of the company’s stock valued at $12,845,000 after buying an additional 45,161 shares in the last quarter. Algert Global LLC bought a new stake in shares of RxSight during the second quarter worth $2,488,000. Baillie Gifford & Co. increased its holdings in shares of RxSight by 17.0% during the third quarter. Baillie Gifford & Co. now owns 419,004 shares of the company’s stock worth $20,711,000 after buying an additional 60,789 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of RxSight by 389.8% in the 3rd quarter. Barclays PLC now owns 58,786 shares of the company’s stock valued at $2,906,000 after acquiring an additional 46,783 shares during the last quarter. Institutional investors and hedge funds 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.