Wall Street Zen upgraded shares of RxSight (NASDAQ:RXST – Free Report) from a sell rating to a hold rating in a report issued on Saturday.
A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th. Jefferies Financial Group set a $6.50 target price on RxSight in a report on Tuesday, July 7th. UBS Group lifted their price target on RxSight from $5.50 to $6.30 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Finally, Bank of America lowered their target price on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $8.37.
View Our Latest Stock Report on RxSight
RxSight Stock Up 5.0%
RxSight (NASDAQ:RXST – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $32.55 million. On average, sell-side analysts expect that RxSight will post -1.31 earnings per share for the current year.
Hedge Funds Weigh In On RxSight
Large investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in shares of RxSight in the second quarter worth $28,000. Summit Securities Group LLC bought a new position in RxSight during the 1st quarter worth $30,000. Larson Financial Group LLC raised its position in RxSight by 110.5% during the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock worth $36,000 after purchasing an additional 2,089 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in 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 lifted its holdings in 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. 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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