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

RxSight, Inc. (NASDAQ:RXST) has received an average recommendation of “Reduce” from the twelve ratings firms that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $8.8889.

A number of equities research analysts have recently issued reports on the company. Weiss Ratings lowered 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 RxSight in a research report on Tuesday, July 7th. Wall Street Zen raised RxSight from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of RxSight in a research note on Tuesday, July 7th. Finally, Bank of America decreased their price objective on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research report on Tuesday, July 7th.

RxSight Stock Performance

NASDAQ RXST opened at $5.19 on Monday. RxSight has a 1 year low of $4.48 and a 1 year high of $13.22. The business’s fifty day moving average is $5.28 and its two-hundred day moving average is $6.90. The stock has a market capitalization of $214.87 million, a P/E ratio of -4.59 and a beta of 1.15.

Institutional Trading of RxSight

Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC increased its stake 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 during the last quarter. Artisan Partners Limited Partnership boosted its holdings in RxSight by 23.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,157,264 shares of the company’s stock worth $22,479,000 after purchasing an additional 403,581 shares in the last quarter. No Street GP LP increased its position in RxSight by 35.4% during the third quarter. No Street GP LP now owns 1,625,000 shares of the company’s stock worth $14,609,000 after buying an additional 425,000 shares during the last quarter. Bank of America Corp DE raised its holdings in RxSight by 30.3% during the first quarter. Bank of America Corp DE now owns 1,210,039 shares of the company’s stock valued at $7,454,000 after buying an additional 281,426 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in 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 buying an additional 1,000,000 shares in the last quarter. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

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.