RxSight (NASDAQ:RXST) Downgraded by Stifel Nicolaus to Hold

RxSight (NASDAQ:RXST) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Friday, Marketbeat Ratings reports. They currently have a $40.00 price target on the stock, down from their previous price target of $65.00. Stifel Nicolaus’ target price would indicate a potential upside of 4.74% from the stock’s previous close.

RXST has been the topic of a number of other reports. Needham & Company LLC reiterated a “buy” rating and set a $66.00 target price on shares of RxSight in a research report on Friday, September 13th. Jefferies Financial Group assumed coverage on RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price target for the company. UBS Group started coverage on shares of RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 price objective on the stock. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $42.00 target price (down previously from $56.00) on shares of RxSight in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RxSight presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

RxSight Stock Performance

Shares of NASDAQ:RXST opened at $38.19 on Friday. The business has a fifty day moving average of $46.08 and a 200-day moving average of $50.25. RxSight has a twelve month low of $34.92 and a twelve month high of $66.54. The firm has a market cap of $1.54 billion, a PE ratio of -46.01 and a beta of 1.11.

Insiders Place Their Bets

In other news, Director Shweta Maniar sold 3,782 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total transaction of $173,518.16. Following the transaction, the director now directly owns 10,902 shares in the company, valued at $500,183.76. The trade was a 25.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $52.67, for a total value of $163,277.00. Following the transaction, the insider now owns 42,246 shares of the company’s stock, valued at $2,225,096.82. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,707 shares of company stock worth $3,037,386. Corporate insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank lifted its holdings in RxSight by 21.3% during the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after purchasing an additional 207 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of RxSight by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock worth $1,782,000 after buying an additional 240 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of RxSight by 3.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,861 shares of the company’s stock worth $473,000 after buying an additional 242 shares during the period. Quarry LP grew its stake in RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares during the last quarter. Finally, RiverPark Advisors LLC raised its holdings in RxSight by 9.6% in the 2nd quarter. RiverPark Advisors LLC now owns 3,379 shares of the company’s stock valued at $203,000 after acquiring an additional 297 shares during the period. 78.78% of the stock is currently owned by institutional investors.

About RxSight

RxSight, Inc, a commercial-stage medical device company, engages in the research and development, manufacture, and sale of light adjustable intraocular lenses (LAL) used in cataract surgery in the United States and internationally. It offers RxSight system that enables doctors to customize and enhance the visual acuity for patients after cataract surgery.