RxSight (NASDAQ:RXST) Upgraded to “Hold” at UBS Group

RxSight (NASDAQ:RXST) was upgraded by research analysts at UBS Group to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

RXST has been the subject of a number of other reports. Wall Street Zen upgraded RxSight from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Wells Fargo & Company lowered 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. Weiss Ratings lowered shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Jefferies Financial Group set a $6.50 target price on shares of RxSight in a research note on Tuesday, July 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of RxSight in a report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, RxSight has an average rating of “Reduce” and a consensus price target of $8.50.

RxSight Stock Up 1.3%

Shares of NASDAQ:RXST opened at $6.13 on Tuesday. The business has a 50 day moving average price of $5.27 and a 200 day moving average price of $6.80. RxSight has a twelve month low of $4.48 and a twelve month high of $13.22. The company has a market cap of $253.78 million, a price-to-earnings ratio of -5.42 and a beta of 1.15.

Institutional Trading of RxSight

A number of hedge funds have recently modified their holdings of the company. Millennium Management LLC grew its holdings in shares of RxSight by 130.6% during the 3rd quarter. Millennium Management LLC now owns 2,193,062 shares of the company’s stock worth $19,716,000 after purchasing an additional 1,241,885 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of RxSight by 761.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,131,400 shares of the company’s stock valued at $6,969,000 after purchasing an additional 1,000,000 shares during the period. Bank of America Corp DE raised its stake in shares of RxSight by 406.0% in the third quarter. Bank of America Corp DE now owns 722,435 shares of the company’s stock valued at $6,495,000 after purchasing an additional 579,653 shares in the last quarter. UBS Group AG lifted its position in RxSight by 183.0% in the third quarter. UBS Group AG now owns 735,170 shares of the company’s stock worth $6,609,000 after purchasing an additional 475,395 shares during the period. Finally, Nuveen LLC lifted its position in RxSight by 609.7% in the fourth quarter. Nuveen LLC now owns 531,730 shares of the company’s stock worth $5,541,000 after purchasing an additional 456,803 shares during the period. Institutional investors own 78.78% of the company’s stock.

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.