RxSight (NASDAQ:RXST) Sets New 12-Month Low Following Analyst Downgrade

RxSight, Inc. (NASDAQ:RXST)’s stock price reached a new 52-week low on Thursday after Stifel Nicolaus lowered their price target on the stock from $33.00 to $28.00. Stifel Nicolaus currently has a hold rating on the stock. RxSight traded as low as $24.38 and last traded at $24.98, with a volume of 79700 shares traded. The stock had previously closed at $24.85.

A number of other research firms have also weighed in on RXST. Wells Fargo & Company lowered their price objective on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $43.00 price target on shares of RxSight in a research report on Wednesday, February 26th. UBS Group initiated coverage on shares of RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Insider Activity at RxSight

In other RxSight news, Director Tamara Fountain sold 7,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the sale, the director now directly owns 24,793 shares in the company, valued at $637,428.03. This represents a 22.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jesse Anderson Corley acquired 1,443 shares of the stock in a transaction dated Wednesday, January 15th. The stock was acquired at an average cost of $31.18 per share, with a total value of $44,992.74. Following the purchase, the director now owns 1,443 shares of the company’s stock, valued at approximately $44,992.74. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Company insiders own 9.36% of the company’s stock.

Institutional Trading of RxSight

Several hedge funds have recently modified their holdings of RXST. RA Capital Management L.P. raised its holdings in RxSight by 6.0% in the third quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock valued at $193,609,000 after acquiring an additional 222,000 shares in the last quarter. Vanguard Group Inc. increased its position in shares of RxSight by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company’s stock valued at $81,946,000 after purchasing an additional 96,464 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of RxSight by 23.7% in the 4th quarter. Bank of America Corp DE now owns 2,159,923 shares of the company’s stock valued at $74,258,000 after purchasing an additional 413,737 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of RxSight by 32.6% during the 4th 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. Finally, Geode Capital Management LLC grew its stake in shares of RxSight by 1.7% during 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 in the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

RxSight Stock Up 0.5 %

The stock has a market cap of $1.01 billion, a PE ratio of -30.12 and a beta of 1.22. The firm has a fifty day moving average of $29.99 and a 200 day moving average of $40.47.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). The business had revenue of $40.21 million during the quarter, compared to analysts’ expectations of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. On average, equities research analysts forecast that RxSight, Inc. will post -0.7 EPS for the current fiscal 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.