Oppenheimer Downgrades RxSight (NASDAQ:RXST) to Market Perform

Oppenheimer lowered shares of RxSight (NASDAQ:RXST - Free Report) from an outperform rating to a market perform rating in a research note released on Wednesday morning, Marketbeat reports.

Several other research firms have also recently issued reports on RXST. BTIG Research reaffirmed a "neutral" rating on shares of RxSight in a research report on Wednesday. UBS Group downgraded RxSight from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $45.00 to $16.00 in a report on Wednesday, April 9th. 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 report on Friday, April 4th. Stifel Nicolaus decreased their target price on RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research note on Wednesday, March 19th. Finally, Piper Sandler assumed coverage on shares of RxSight in a research note on Tuesday, April 15th. They set a "neutral" rating and a $18.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $23.90.

RxSight Stock Up 6.4%

NASDAQ:RXST traded up $0.51 on Wednesday, reaching $8.46. 4,430,180 shares of the company's stock were exchanged, compared to its average volume of 800,043. The business has a fifty day moving average of $14.13 and a 200-day moving average of $22.20. RxSight has a 52-week low of $6.32 and a 52-week high of $58.23. The firm has a market capitalization of $343.79 million, a price-to-earnings ratio of -12.63 and a beta of 1.21.

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

Institutional Investors Weigh In On RxSight

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in RxSight by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company's stock worth $7,838,000 after acquiring an additional 113,767 shares in the last quarter. Voya Investment Management LLC grew its position in RxSight by 73.9% during the 1st quarter. Voya Investment Management LLC now owns 26,969 shares of the company's stock worth $681,000 after purchasing an additional 11,464 shares during the last quarter. Militia Capital Partners LP purchased a new position in RxSight during the 1st quarter worth $758,000. Rhumbline Advisers grew its position in RxSight by 6.4% during the 1st quarter. Rhumbline Advisers now owns 51,576 shares of the company's stock worth $1,302,000 after purchasing an additional 3,103 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in RxSight by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company's stock worth $2,358,000 after purchasing an additional 8,424 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.