RxSight, Inc. (NASDAQ:RXST) Receives Average Recommendation of "Reduce" from Analysts

RxSight, Inc. (NASDAQ:RXST - Get Free Report) has been assigned an average recommendation of "Reduce" from the ten analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $23.90.

A number of equities analysts recently issued reports on the company. Oppenheimer cut RxSight from an "outperform" rating to a "market perform" rating in a report on Wednesday. Stifel Nicolaus lowered their price target on RxSight from $17.00 to $9.00 and set a "hold" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $17.00 price target (down previously from $40.00) on shares of RxSight in a report on Friday, April 4th. Needham & Company LLC reiterated a "buy" rating and set a $22.00 price target on shares of RxSight in a report on Wednesday. Finally, UBS Group downgraded RxSight from a "buy" rating to a "neutral" rating and lowered their price target for the company from $45.00 to $16.00 in a report on Wednesday, April 9th.

Hedge Funds Weigh In On RxSight

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in 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 acquiring an additional 9,385 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 acquiring an additional 5,425 shares in the last quarter. Victory Capital Management Inc. raised its holdings in 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 acquiring an additional 12,114 shares in the last quarter. AlphaQuest LLC raised its holdings in 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 acquiring an additional 2,017 shares in the last quarter. Finally, Swiss National Bank raised its holdings in 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 acquiring an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company's stock.

RxSight Price Performance

Shares of RXST traded up $0.51 during midday trading on Thursday, reaching $8.46. The stock had a trading volume of 4,430,180 shares, compared to its average volume of 803,491. RxSight has a 52 week low of $6.32 and a 52 week high of $58.23. The firm's 50 day moving average price is $14.26 and its 200-day moving average price is $22.38. The company has a market capitalization of $343.81 million, a P/E ratio of -12.63 and a beta of 1.21.

RxSight (NASDAQ:RXST - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, hitting analysts' consensus estimates of ($0.03). The company 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.25) EPS. On average, equities analysts forecast that RxSight will post -0.7 earnings per share for the current year.

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.