RxSight, Inc. (NASDAQ:RXST) Given Consensus Recommendation of "Reduce" by Analysts

Key Points

• RxSight carries a consensus analyst recommendation of "Reduce", based on coverage from 12 research firms. The breakdown includes three sell ratings, seven holds, and two buys, with an average 12-month price target of about $8.89.
• Recent analyst actions have been mostly cautious, including price-target cuts from Bank of America and Wells Fargo and downgrades from Weiss Ratings and Wall Street Zen. Bank of America currently rates the stock underperform with a $6.50 target.
• The stock opened at $5.55 and has traded between $4.48 and $13.22 over the past 52 weeks. RxSight makes adjustable intraocular lens systems for cataract surgery, and hedge funds remain heavily invested, owning 78.78% of shares.

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) have earned a consensus recommendation of "Reduce" from the twelve research firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $8.8889.

Several analysts recently issued reports on RXST shares. Weiss Ratings cut RxSight from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, June 11th. Wall Street Zen raised RxSight from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th. Bank of America dropped their price target on RxSight from $8.00 to $6.50 and set an "underperform" rating for the company in a research note on Tuesday, July 7th. Jefferies Financial Group set a $6.50 price objective on shares of RxSight in a report on Tuesday, July 7th. Finally, Wells Fargo & Company reduced their price objective on shares of RxSight from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 7th.

RxSight Price Performance

NASDAQ:RXST opened at $5.55 on Monday. The business's 50-day simple moving average is $5.30 and its two-hundred day simple moving average is $7.06. The stock has a market cap of $229.77 million, a PE ratio of -4.91 and a beta of 1.15. RxSight has a 52 week low of $4.48 and a 52 week high of $13.22.

Hedge Funds Weigh In On RxSight

Institutional investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its stake in RxSight by 130.6% in 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 in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of RxSight by 23.0% during 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 last quarter. No Street GP LP boosted its holdings 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 during the last quarter. Bank of America Corp DE grew its position in shares of 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 purchasing an additional 281,426 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of 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 purchasing an additional 1,000,000 shares in the last quarter. 78.78% of the stock is 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.

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