BTIG Research Reiterates Neutral Rating for RxSight (NASDAQ:RXST)

RxSight (NASDAQ:RXST - Get Free Report)'s stock had its "neutral" rating restated by BTIG Research in a note issued to investors on Wednesday,Benzinga reports.

Other research analysts also recently issued research reports about the company. UBS Group downgraded RxSight from a "buy" rating to a "neutral" rating and lowered their target price for the company from $45.00 to $16.00 in a report on Wednesday, April 9th. Stifel Nicolaus lowered their target price on RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, March 19th. Piper Sandler started coverage on RxSight in a report on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $43.00 price objective on shares of RxSight in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company raised RxSight from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $17.00 to $25.00 in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, RxSight presently has a consensus rating of "Hold" and an average price target of $35.80.

RxSight Price Performance

Shares of NASDAQ:RXST opened at $12.79 on Wednesday. The company has a market cap of $519.79 million, a P/E ratio of -19.09 and a beta of 1.21. RxSight has a 1 year low of $6.47 and a 1 year high of $58.23. The stock's fifty day moving average price is $14.40 and its 200-day moving average price is $22.48.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.03). The firm had revenue of $37.90 million for the quarter, compared to the consensus estimate of $38.74 million. RxSight had a negative return on equity of 9.54% and a negative net margin of 17.90%. The company's quarterly revenue was up 28.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.25) earnings per share. On average, sell-side analysts anticipate that RxSight will post -0.7 earnings per share for the current year.

Hedge Funds Weigh In On RxSight

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of RxSight by 10.0% in the 4th quarter. Bank of New York Mellon Corp now owns 102,882 shares of the company's stock valued at $3,537,000 after purchasing an additional 9,385 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of RxSight by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 290,754 shares of the company's stock valued at $9,996,000 after purchasing an additional 5,425 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of RxSight by 4.7% in the 4th quarter. Victory Capital Management Inc. now owns 271,978 shares of the company's stock valued at $9,351,000 after purchasing an additional 12,114 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of RxSight by 65.7% in the 4th quarter. AlphaQuest LLC now owns 5,086 shares of the company's stock valued at $175,000 after purchasing an additional 2,017 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of RxSight by 2.6% in the 4th quarter. Swiss National Bank now owns 66,300 shares of the company's stock valued at $2,279,000 after purchasing an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 78.78% of the company's stock.

About RxSight

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.

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