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

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

A number of other research firms have also recently commented on RXST. Stifel Nicolaus decreased their target price on shares of RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday, March 19th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $17.00 price objective (down previously from $40.00) on shares of RxSight in a research note on Friday, April 4th. Wells Fargo & Company upgraded shares of RxSight from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $17.00 to $25.00 in a research note on Monday, May 19th. BTIG Research restated a "neutral" rating on shares of RxSight in a research report on Wednesday. Finally, Bank of America reiterated an "underperform" rating and issued a $22.00 target price (down previously from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $30.20.

RxSight Price Performance

Shares of NASDAQ RXST traded down $4.84 during mid-day trading on Wednesday, hitting $7.95. 16,719,904 shares of the company's stock traded hands, compared to its average volume of 787,362. The company's 50-day moving average is $14.40 and its two-hundred day moving average is $22.48. The company has a market capitalization of $323.09 million, a P/E ratio of -11.87 and a beta of 1.21. RxSight has a 1 year low of $6.29 and a 1 year high of $58.23.

RxSight (NASDAQ:RXST - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, hitting analysts' consensus estimates of ($0.03). The business had revenue of $37.90 million for the quarter, compared to the consensus estimate of $38.74 million. RxSight had a negative net margin of 17.90% and a negative return on equity of 9.54%. The company's revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.25) EPS. Equities analysts anticipate that RxSight will post -0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On RxSight

A number of large investors have recently bought and sold shares of the company. State of Wyoming acquired a new stake in RxSight in the 4th quarter valued at about $37,000. Coppell Advisory Solutions LLC raised its holdings in RxSight by 108.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock valued at $44,000 after buying an additional 672 shares during the period. Russell Investments Group Ltd. raised its holdings in RxSight by 161.2% in the first quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company's stock valued at $103,000 after buying an additional 2,525 shares during the period. AlphaQuest LLC raised its holdings in 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 during the period. Finally, Two Sigma Securities LLC purchased a new position in RxSight in the fourth quarter valued at approximately $200,000. Hedge funds and other institutional investors 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.