RxSight (NASDAQ:RXST) Given New $9.00 Price Target at Stifel Nicolaus

RxSight (NASDAQ:RXST - Free Report) had its price objective trimmed by Stifel Nicolaus from $17.00 to $9.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. restated an "underweight" rating and issued a $17.00 price target (down previously from $40.00) on shares of RxSight in a research note on Friday, April 4th. Wells Fargo & Company downgraded shares of RxSight from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $25.00 to $9.00 in a research report on Wednesday. Needham & Company LLC restated a "buy" rating and set a $22.00 price target on shares of RxSight in a report on Wednesday. BTIG Research restated a "neutral" rating on shares of RxSight in a report on Wednesday. Finally, Piper Sandler started coverage on shares of RxSight in a research note on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 target price on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $23.90.

RxSight Stock Performance

Shares of RxSight stock traded down $0.46 during trading on Wednesday, reaching $8.00. The company had a trading volume of 2,222,737 shares, compared to its average volume of 802,293. The company has a market cap of $325.12 million, a price-to-earnings ratio of -11.94 and a beta of 1.21. RxSight has a fifty-two week low of $6.32 and a fifty-two week high of $58.23. The firm's fifty day moving average is $13.97 and its 200-day moving average is $21.93.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RXST. T. Rowe Price Investment Management Inc. boosted its holdings in RxSight by 885.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 719,818 shares of the company's stock worth $18,176,000 after purchasing an additional 646,791 shares during the last quarter. Royal Bank of Canada boosted its holdings in RxSight by 3,094.6% during the fourth quarter. Royal Bank of Canada now owns 508,491 shares of the company's stock worth $17,481,000 after purchasing an additional 492,574 shares during the last quarter. DF Dent & Co. Inc. acquired a new position in RxSight during the fourth quarter worth $14,524,000. Bank of America Corp DE boosted its holdings in RxSight by 23.7% during the fourth quarter. Bank of America Corp DE now owns 2,159,923 shares of the company's stock worth $74,258,000 after purchasing an additional 413,737 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in RxSight by 32.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company's stock valued at $53,345,000 after acquiring an additional 381,389 shares during 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.