UBS Group Upgrades RxSight (NASDAQ:RXST) to Hold

Key Points

• UBS Group upgraded RxSight to “hold,” while the broader analyst consensus remains “Reduce,” with an average price target of $8.50.
• Other analysts have taken a cautious view: Bank of America cut its target to $6.50 and rated the stock “underperform,” while Wells Fargo lowered its target to $9.00 and kept an “equal weight” rating.
• RxSight shares opened at $6.13, with a market capitalization of about $253.8 million; institutional investors and hedge funds own approximately 78.78% of the stock.

RxSight (NASDAQ:RXST - Get Free Report) was upgraded by research analysts at UBS Group to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on RXST. Bank of America cut their price target on RxSight from $8.00 to $6.50 and set an "underperform" rating for the company in a research note on Tuesday, July 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. Jefferies Financial Group set a $6.50 target price on shares of RxSight in a research note on Tuesday, July 7th. Wells Fargo & Company decreased their target price on shares of RxSight from $11.00 to $9.00 and set an "equal weight" rating for the company in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of RxSight from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $8.50.

RxSight Trading Up 1.3%

RXST opened at $6.13 on Tuesday. The stock has a fifty day moving average price of $5.27 and a 200 day moving average price of $6.80. RxSight has a 1 year low of $4.48 and a 1 year high of $13.22. The stock has a market cap of $253.78 million, a price-to-earnings ratio of -5.42 and a beta of 1.15.

Institutional Investors Weigh In On RxSight

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in RxSight during the second quarter valued at approximately $28,000. Summit Securities Group LLC acquired a new stake in shares of RxSight in the first quarter worth $30,000. Larson Financial Group LLC lifted 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 worth $36,000 after buying an additional 2,089 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of RxSight by 440.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company's stock worth $39,000 after buying an additional 3,063 shares during the period. Finally, CWM LLC boosted its holdings in shares of RxSight by 211.1% during the 4th quarter. CWM LLC now owns 3,826 shares of the company's stock worth $40,000 after buying an additional 2,596 shares during the period. 78.78% of the stock is currently owned by institutional investors and hedge funds.

RxSight Company Profile

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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