Wall Street Zen upgraded shares of RxSight (NASDAQ:RXST – Free Report) from a sell rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.
A number of other equities analysts have also issued reports on RXST. Stifel Nicolaus reduced their target price on shares of RxSight from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Monday, August 10th. Wells Fargo & Company lowered their price target on shares of RxSight from $9.00 to $6.00 and set an “equal weight” rating for the company in a report on Wednesday, November 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RxSight in a report on Tuesday, September 8th. Bank of America reduced their price objective on RxSight from $6.50 to $5.50 and set an “underperform” rating on the stock in a report on Tuesday, September 22nd. Finally, Jefferies Financial Group decreased their price objective on RxSight from $6.50 to $5.75 and set a “hold” rating on the stock in a research report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.94.
Get Our Latest Stock Analysis on RXST
RxSight Stock Performance
Shares of NASDAQ:RXST opened at $4.86 on Friday. The company has a market capitalization of $203.78 million, a PE ratio of -3.80 and a beta of 1.21. The company’s fifty day moving average is $5.18 and its 200-day moving average is $6.24. RxSight has a 52 week low of $4.11 and a 52 week high of $13.22.
RxSight (NASDAQ:RXST – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.08). RxSight had a negative return on equity of 20.11% and a negative net margin of 43.80%. The business had revenue of $24.59 million during the quarter, compared to analyst estimates of $27.19 million. On average, analysts forecast that RxSight will post -1.03 EPS for the current year.
Insider Activity at RxSight
In related news, CFO Mark Wilterding sold 7,765 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total transaction of $54,044.40. Following the completion of the sale, the chief financial officer directly owned 25,049 shares of the company’s stock, valued at $174,341.04. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider M Kurtz sold 5,100 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total transaction of $35,496.00. Following the sale, the insider directly owned 71,775 shares of the company’s stock, valued at approximately $499,554. This trade represents a 6.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 16,947 shares of company stock valued at $117,951. 10.05% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in RXST. Summit Securities Group LLC acquired a new position in shares of RxSight during the 1st quarter worth approximately $30,000. Bank of New York Mellon Corp lifted its holdings in RxSight by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 100,306 shares of the company’s stock valued at $618,000 after purchasing an additional 5,978 shares during the last quarter. Pure Financial Advisors LLC acquired a new stake in RxSight during the 2nd quarter valued at $53,000. The Manufacturers Life Insurance Company bought a new position in RxSight during the second quarter worth $56,000. Finally, Great Lakes Advisors LLC bought a new position in RxSight during the second quarter worth $61,000. Institutional investors and hedge funds own 78.78% of the company’s stock.
RxSight Company Profile
RxSight, Inc is a medical technology company focused on improving visual outcomes for patients undergoing cataract surgery. The company develops and commercializes ophthalmic products that allow surgeons to customize a patient’s vision after surgery.
Its primary product is the RxSight Light Adjustable Lens, an intraocular lens implanted during cataract surgery. After implantation, the lens can be adjusted using ultraviolet light treatments delivered by the company’s Light Delivery Device, enabling physicians to refine the lens power based on the patient’s postoperative visual needs.
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