Stifel Nicolaus Issues Pessimistic Forecast for RxSight (NASDAQ:RXST) Stock Price

RxSight (NASDAQ:RXSTGet Free Report) had its price objective decreased by research analysts at Stifel Nicolaus from $8.00 to $7.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 11.82% from the stock’s previous close.

Several other brokerages have also commented on RXST. Weiss Ratings lowered RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. UBS Group raised their price objective on RxSight from $5.50 to $6.30 and gave the company a “neutral” rating in a research note on Thursday. Bank of America dropped their price objective on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Wells Fargo & Company reduced their price objective on RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded RxSight from a “sell” rating to a “hold” rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $8.37.

Check Out Our Latest Stock Analysis on RxSight

RxSight Price Performance

Shares of NASDAQ RXST opened at $6.26 on Monday. The stock has a market capitalization of $260.35 million, a price-to-earnings ratio of -5.54 and a beta of 1.13. RxSight has a 52 week low of $4.48 and a 52 week high of $13.22. The firm has a 50-day moving average price of $5.31 and a 200 day moving average price of $6.62.

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

Institutional Trading of RxSight

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of RxSight in the second quarter valued at approximately $27,910,000. Deutsche Bank AG purchased a new stake in RxSight in the 2nd quarter valued at approximately $2,604,000. Bank of New York Mellon Corp purchased a new stake in RxSight in the 2nd quarter valued at approximately $579,000. GSA Capital Partners LLP acquired a new stake in RxSight during the 2nd quarter valued at $431,000. Finally, Walleye Capital LLC acquired a new stake in RxSight during the 2nd quarter valued at $1,726,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

About RxSight

(Get Free Report)

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.

Further Reading

Analyst Recommendations for RxSight (NASDAQ:RXST)

Receive News & Ratings for RxSight Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RxSight and related companies with MarketBeat.com's FREE daily email newsletter.