Analysts Set RxSight, Inc. (NASDAQ:RXST) Price Target at $9.67

RxSight, Inc. (NASDAQ:RXST) has been assigned a consensus recommendation of “Reduce” from the thirteen research firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $9.6667.

A number of research firms have issued reports on RXST. Needham & Company LLC increased their price target on RxSight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Wells Fargo & Company boosted their target price on shares of RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. increased their target price on shares of RxSight from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, November 6th. Zacks Research raised shares of RxSight from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of RxSight in a research report on Wednesday, October 8th.

RxSight Stock Down 0.6%

Shares of NASDAQ RXST opened at $12.48 on Friday. The company has a market capitalization of $513.18 million, a PE ratio of -14.18 and a beta of 1.14. RxSight has a twelve month low of $6.32 and a twelve month high of $41.11. The firm has a fifty day simple moving average of $9.51 and a 200 day simple moving average of $10.13.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.15. The firm had revenue of $30.34 million during the quarter, compared to analyst estimates of $25.63 million. RxSight had a negative return on equity of 12.82% and a negative net margin of 25.15%.The business’s quarterly revenue was down 31.4% on a year-over-year basis. During the same period last year, the company posted ($0.16) EPS. As a group, equities analysts expect that RxSight will post -0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RxSight

A number of hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of RxSight during the second quarter valued at approximately $28,000. Bessemer Group Inc. bought a new stake in RxSight during the 2nd quarter valued at $33,000. Larson Financial Group LLC raised its holdings in RxSight by 110.5% during 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. State of Wyoming lifted its stake in shares of RxSight by 91.5% in the first quarter. State of Wyoming now owns 2,062 shares of the company’s stock valued at $52,000 after buying an additional 985 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of RxSight by 614.1% during the second quarter. CWM LLC now owns 4,520 shares of the company’s stock valued at $59,000 after buying an additional 3,887 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.