RxSight, Inc. (NASDAQ:RXST) Receives $9.44 Consensus PT from Brokerages

RxSight, Inc. (NASDAQ:RXST) has been given an average recommendation of “Reduce” by the fifteen brokerages that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $9.4444.

RXST has been the topic of a number of analyst reports. Weiss Ratings cut 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 target on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Stifel Nicolaus reduced their price target on shares of RxSight from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Monday, March 9th. Finally, Needham & Company LLC reduced their target price on shares of RxSight from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, May 7th.

Institutional Investors Weigh In On RxSight

A number of institutional investors have recently added to or reduced their stakes in RXST. Raymond James Financial Inc. purchased a new stake in RxSight during the 2nd quarter valued at approximately $28,000. Summit Securities Group LLC bought a new stake in RxSight in the first quarter worth $30,000. Larson Financial Group LLC lifted its position in RxSight by 110.5% in the third 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. Caitong International Asset Management Co. Ltd increased its stake in RxSight by 440.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock worth $39,000 after purchasing an additional 3,063 shares during the period. Finally, CWM LLC increased its stake in RxSight by 211.1% in the fourth quarter. CWM LLC now owns 3,826 shares of the company’s stock worth $40,000 after purchasing an additional 2,596 shares during the period. 78.78% of the stock is owned by hedge funds and other institutional investors.

RxSight Price Performance

Shares of RxSight stock opened at $5.10 on Thursday. The stock has a market cap of $211.14 million, a price-to-earnings ratio of -4.51 and a beta of 1.15. The firm’s 50-day moving average is $5.78 and its 200 day moving average is $7.72. RxSight has a 1 year low of $4.48 and a 1 year high of $13.65.

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.