RxSight, Inc. (NASDAQ:RXST) Receives Consensus Rating of “Reduce” from Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have earned a consensus rating of “Reduce” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $9.7778.

A number of brokerages have weighed in on RXST. UBS Group boosted their target price on shares of RxSight from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. William Blair began coverage on shares of RxSight in a research note on Friday, January 30th. They set a “market perform” rating on the stock. Stifel Nicolaus lowered their price target on shares of RxSight from $10.00 to $9.00 and set a “hold” rating for the company in a report on Monday, March 9th. Needham & Company LLC restated a “buy” rating and issued a $13.00 price objective on shares of RxSight in a research report on Thursday, February 26th. Finally, Morgan Stanley upped their price objective on RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd.

RxSight Stock Performance

Shares of NASDAQ:RXST opened at $6.39 on Tuesday. The business has a fifty day moving average of $8.35 and a 200-day moving average of $9.36. RxSight has a twelve month low of $6.26 and a twelve month high of $27.13. The firm has a market cap of $263.72 million, a PE ratio of -6.73 and a beta of 1.16.

Hedge Funds Weigh In On RxSight

Several hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in RxSight in the second quarter worth about $28,000. Larson Financial Group LLC lifted its position in RxSight by 110.5% during the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after purchasing an additional 2,089 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of RxSight by 440.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock valued at $39,000 after purchasing an additional 3,063 shares during the last quarter. CWM LLC boosted its stake in shares of RxSight by 211.1% in the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock valued at $40,000 after purchasing an additional 2,596 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of RxSight by 156.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,574 shares of the company’s stock worth $72,000 after buying an additional 3,398 shares during the period. Institutional investors own 78.78% of the company’s stock.

RxSight Company Profile

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.