RxSight, Inc. (NASDAQ:RXST) Receives $37.60 Consensus Target Price from Analysts

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) have been assigned a consensus rating of "Hold" from the ten research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $37.60.

Several equities research analysts have recently weighed in on RXST shares. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $17.00 price objective (down from $40.00) on shares of RxSight in a research note on Friday, April 4th. UBS Group lowered shares of RxSight from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $45.00 to $16.00 in a report on Wednesday, April 9th. Wells Fargo & Company cut their price target on shares of RxSight from $35.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Bank of America restated an "underperform" rating and issued a $22.00 price target (down from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Finally, Piper Sandler started coverage on shares of RxSight in a research note on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 target price for the company.

RxSight Stock Up 0.4 %

RxSight stock traded up $0.06 during trading hours on Friday, hitting $14.78. The stock had a trading volume of 74,628 shares, compared to its average volume of 799,996. RxSight has a fifty-two week low of $13.50 and a fifty-two week high of $66.54. The company has a market cap of $600.40 million, a PE ratio of -17.81 and a beta of 1.26. The company has a 50-day moving average of $21.22 and a two-hundred day moving average of $33.24.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.25). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The business had revenue of $40.21 million during the quarter, compared to analyst estimates of $40.23 million. As a group, analysts forecast that RxSight will post -0.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Tamara Fountain sold 7,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the transaction, the director now owns 24,793 shares in the company, valued at approximately $637,428.03. The trade was a 22.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.36% of the company's stock.

Hedge Funds Weigh In On RxSight

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in RxSight by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company's stock worth $81,946,000 after purchasing an additional 96,464 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of RxSight by 23.7% during the 4th quarter. Bank of America Corp DE now owns 2,159,923 shares of the company's stock worth $74,258,000 after buying an additional 413,737 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in RxSight by 32.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company's stock worth $53,345,000 after acquiring an additional 381,389 shares in the last quarter. Geode Capital Management LLC boosted its position in RxSight by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 830,758 shares of the company's stock valued at $28,568,000 after purchasing an additional 13,641 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of RxSight by 1.6% during the 4th quarter. Deutsche Bank AG now owns 657,224 shares of the company's stock worth $22,595,000 after purchasing an additional 10,634 shares during the last quarter. 78.78% of the stock is owned by institutional investors.

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.