RxSight (NASDAQ:RXST) Stock Rating Lowered by Oppenheimer

RxSight (NASDAQ:RXST - Get Free Report) was downgraded by stock analysts at Oppenheimer from an "outperform" rating to a "market perform" rating in a research note issued on Wednesday,Briefing.com Automated Import reports.

Other research analysts have also recently issued reports about the company. Stifel Nicolaus lowered their price target on RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, March 19th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $17.00 price target (down from $40.00) on shares of RxSight in a report on Friday, April 4th. Wells Fargo & Company cut RxSight from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $25.00 to $9.00 in a report on Wednesday. Piper Sandler assumed coverage on RxSight in a report on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 price target on the stock. Finally, Needham & Company LLC reissued a "buy" rating and issued a $22.00 price target on shares of RxSight in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, RxSight has an average rating of "Hold" and a consensus price target of $32.30.

RxSight Stock Up 2.9%

RXST stock opened at $12.79 on Wednesday. RxSight has a twelve month low of $6.45 and a twelve month high of $58.23. The stock has a market cap of $519.79 million, a P/E ratio of -19.09 and a beta of 1.21. The business's 50-day moving average price is $14.40 and its 200-day moving average price is $22.48.

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

Hedge Funds Weigh In On RxSight

Large investors have recently modified their holdings of the stock. State of Wyoming bought a new position in shares of RxSight during the 4th quarter valued at approximately $37,000. Coppell Advisory Solutions LLC boosted its holdings in RxSight by 108.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock valued at $44,000 after acquiring an additional 672 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of RxSight by 161.2% in the 1st quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company's stock worth $103,000 after buying an additional 2,525 shares during the period. AlphaQuest LLC lifted its holdings in shares of RxSight by 65.7% in the 4th quarter. AlphaQuest LLC now owns 5,086 shares of the company's stock worth $175,000 after buying an additional 2,017 shares during the period. Finally, Two Sigma Securities LLC purchased a new stake in shares of RxSight in the 4th quarter worth $200,000. 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.

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