RxSight's (RXST) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of RxSight (NASDAQ:RXST - Free Report) in a research note published on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $22.00 price target on the stock.

A number of other brokerages have also recently commented on RXST. Stifel Nicolaus cut their target price on shares of RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, March 19th. UBS Group cut shares of RxSight from a "buy" rating to a "neutral" rating and cut their target price for the company from $45.00 to $16.00 in a report on Wednesday, April 9th. Wells Fargo & Company raised RxSight from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $17.00 to $25.00 in a research note on Monday, May 19th. BTIG Research reaffirmed a "neutral" rating on shares of RxSight in a research note on Wednesday. Finally, Piper Sandler assumed coverage on RxSight in a research note on Tuesday, April 15th. They set a "neutral" rating and a $18.00 price objective for the company. Two investment 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. Based on data from MarketBeat.com, RxSight currently has a consensus rating of "Hold" and a consensus price target of $23.90.

RxSight Stock Performance

Shares of RXST stock traded up $0.51 during mid-day trading on Wednesday, hitting $8.46. 4,430,180 shares of the stock were exchanged, compared to its average volume of 800,043. The stock's fifty day simple moving average is $14.13 and its two-hundred day simple moving average is $22.20. The stock has a market capitalization of $343.79 million, a price-to-earnings ratio of -12.63 and a beta of 1.21. RxSight has a 12-month low of $6.32 and a 12-month high of $58.23.

RxSight (NASDAQ:RXST - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $37.90 million for the quarter, compared to analyst estimates of $38.74 million. RxSight had a negative return on equity of 9.54% and a negative net margin of 17.90%. The business's quarterly revenue was up 28.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.25) earnings per share. On average, research analysts expect that RxSight will post -0.7 earnings per share for the current fiscal year.

Institutional Trading of RxSight

Several hedge funds have recently made changes to their positions in RXST. Bank of New York Mellon Corp lifted its stake in shares of RxSight by 10.0% in the 4th quarter. Bank of New York Mellon Corp now owns 102,882 shares of the company's stock worth $3,537,000 after acquiring an additional 9,385 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of RxSight by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 290,754 shares of the company's stock valued at $9,996,000 after buying an additional 5,425 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of RxSight by 4.7% in the fourth quarter. Victory Capital Management Inc. now owns 271,978 shares of the company's stock valued at $9,351,000 after buying an additional 12,114 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of RxSight by 65.7% in the fourth quarter. AlphaQuest LLC now owns 5,086 shares of the company's stock valued at $175,000 after buying an additional 2,017 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of RxSight by 2.6% in the fourth quarter. Swiss National Bank now owns 66,300 shares of the company's stock valued at $2,279,000 after buying an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company's stock.

RxSight Company Profile

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.