Needham & Company LLC Cuts RxSight (NASDAQ:RXST) Price Target to $11.00

RxSight (NASDAQ:RXST - Get Free Report) had its price objective reduced by equities research analysts at Needham & Company LLC from $13.00 to $11.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price would suggest a potential upside of 62.24% from the stock's previous close.

Several other equities research analysts also recently commented on the company. UBS Group boosted their price objective on RxSight from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Thursday, February 26th. Wolfe Research raised shares of RxSight to an "outperform" rating in a research report on Friday, January 30th. William Blair assumed coverage on shares of RxSight in a research note on Friday, January 30th. They set a "market perform" rating for the company. Piper Sandler dropped their price objective on shares of RxSight from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, February 26th. Finally, Stifel Nicolaus decreased their target price on shares of RxSight from $10.00 to $9.00 and set a "hold" rating for the company in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $9.56.

RxSight Price Performance

Shares of RxSight stock opened at $6.78 on Thursday. The business has a 50-day simple moving average of $7.17 and a 200 day simple moving average of $8.95. RxSight has a one year low of $5.90 and a one year high of $16.74. The firm has a market capitalization of $280.69 million, a price-to-earnings ratio of -7.14 and a beta of 1.24.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RXST. 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 4th quarter. Artisan Partners Limited Partnership now owns 2,157,264 shares of the company's stock valued at $22,479,000 after purchasing an additional 403,581 shares during the period. No Street GP LP grew its position in shares of RxSight by 35.4% during the 3rd quarter. No Street GP LP now owns 1,625,000 shares of the company's stock valued at $14,609,000 after purchasing an additional 425,000 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of RxSight by 8.0% in the fourth quarter. BNP Paribas Financial Markets now owns 975,744 shares of the company's stock worth $10,167,000 after purchasing an additional 71,898 shares during the period. Finally, State Street Corp increased its holdings in shares of RxSight by 3.0% in the fourth quarter. State Street Corp now owns 848,977 shares of the company's stock worth $8,846,000 after purchasing an additional 24,833 shares during the period. 78.78% of the stock is owned by institutional investors.

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.

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