Stifel Nicolaus Lowers RxSight (NASDAQ:RXST) Price Target to $7.00

Key Points

• Stifel Nicolaus lowered RxSight’s price target from $8.00 to $7.00 while maintaining a “hold” rating, implying 11.82% potential upside from the prior close.
• Analyst sentiment remains cautious: RxSight has two Buy, seven Hold, and three Sell ratings, resulting in a MarketBeat consensus rating of “Reduce” and an average price target of $8.37.
• RxSight reported better-than-expected quarterly results, with an adjusted loss of $0.29 per share versus the $0.33 consensus estimate and revenue of $33.74 million versus $32.55 million expected.

RxSight (NASDAQ:RXST - Get Free Report) had its price target cut by Stifel Nicolaus from $8.00 to $7.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Stifel Nicolaus' price target suggests a potential upside of 11.82% from the stock's previous close.

RXST has been the topic of several other reports. UBS Group lifted their target price on RxSight from $5.50 to $6.30 and gave the company a "neutral" rating in a research note on Thursday. Jefferies Financial Group set a $6.50 price target on RxSight in a research note on Tuesday, July 7th. Wells Fargo & Company decreased their price target on RxSight from $11.00 to $9.00 and set an "equal weight" rating for the company in a report on Thursday, May 7th. Weiss Ratings lowered shares of RxSight from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, June 11th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price objective on shares of RxSight in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $8.37.

RxSight Stock Performance

Shares of RXST opened at $6.26 on Monday. RxSight has a fifty-two week low of $4.48 and a fifty-two week high of $13.22. The company has a market capitalization of $260.35 million, a price-to-earnings ratio of -5.54 and a beta of 1.13. The firm has a 50-day simple moving average of $5.31 and a 200-day simple moving average of $6.62.

RxSight (NASDAQ:RXST - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.04. The firm had revenue of $33.74 million for the quarter, compared to analyst estimates of $32.55 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. Equities research analysts forecast that RxSight will post -1.31 EPS for the current year.

Institutional Investors Weigh In On RxSight

A number of institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of RxSight during the 2nd quarter worth approximately $28,000. Summit Securities Group LLC purchased a new stake in shares of RxSight in the first quarter valued at approximately $30,000. Larson Financial Group LLC boosted its stake in shares of RxSight by 110.5% in the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company's stock valued at $36,000 after buying an additional 2,089 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of RxSight by 440.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company's stock valued at $39,000 after buying an additional 3,063 shares in the last quarter. Finally, CWM LLC grew its holdings in RxSight by 211.1% during the fourth quarter. CWM LLC now owns 3,826 shares of the company's stock worth $40,000 after acquiring an additional 2,596 shares during the period. Hedge funds and other institutional investors own 78.78% of the company's stock.

About RxSight

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company's flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.

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