RxSight, Inc. (NASDAQ:RXST) Receives Consensus Recommendation of "Reduce" from Brokerages

Key Points

• Consensus "Reduce": Fifteen analysts covering RxSight have an average recommendation of "Reduce" (3 sell, 10 hold, 2 buy), reflecting muted sentiment toward the stock.
• Shares trade around $7.26 with a 52‑week range of $5.90–$16.74, a 50‑day SMA of $7.21 and 200‑day SMA of $8.96; the company has a market cap of about $300.6M and a negative P/E (-7.64).
• High institutional ownership: Hedge funds and other institutional investors own roughly 78.78% of the stock, and several institutions (e.g., Mirae Asset, Invesco, Verition, Legal & General) modestly increased their stakes recently.

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) have earned an average rating of "Reduce" from the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $9.7778.

A number of analysts have recently issued reports on the company. Piper Sandler reduced their target price on RxSight from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Thursday, February 26th. UBS Group upped their price target on RxSight from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Thursday, February 26th. Stifel Nicolaus reduced their price objective on RxSight from $10.00 to $9.00 and set a "hold" rating for the company in a research note on Monday, March 9th. William Blair began coverage on RxSight in a research report on Friday, January 30th. They set a "market perform" rating for the company. Finally, Wolfe Research raised RxSight to an "outperform" rating in a research note on Friday, January 30th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of RxSight by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company's stock worth $552,000 after acquiring an additional 1,232 shares during the last quarter. Invesco Ltd. raised its stake in shares of RxSight by 6.6% during the 4th quarter. Invesco Ltd. now owns 20,114 shares of the company's stock worth $210,000 after purchasing an additional 1,249 shares in the last quarter. Verition Fund Management LLC raised its stake in shares of RxSight by 4.4% during the 4th quarter. Verition Fund Management LLC now owns 40,613 shares of the company's stock worth $423,000 after purchasing an additional 1,701 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of RxSight by 110.5% during the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company's stock valued at $36,000 after buying an additional 2,089 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of RxSight by 5.0% during the 2nd quarter. Legal & General Group Plc now owns 44,574 shares of the company's stock valued at $579,000 after buying an additional 2,121 shares during the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

RxSight Price Performance

RxSight stock opened at $7.26 on Wednesday. RxSight has a fifty-two week low of $5.90 and a fifty-two week high of $16.74. The firm's 50 day simple moving average is $7.21 and its 200-day simple moving average is $8.96. The company has a market cap of $300.56 million, a P/E ratio of -7.64 and a beta of 1.24.

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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