Stifel Nicolaus Cuts RxSight (NASDAQ:RXST) Price Target to $28.00

RxSight (NASDAQ:RXST) had its price target trimmed by Stifel Nicolaus from $33.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company reduced their target price on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on shares of RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. 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 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $43.00 price target on shares of RxSight in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, RxSight presently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

RxSight Trading Down 0.2 %

Shares of RXST stock opened at $24.84 on Wednesday. RxSight has a twelve month low of $24.09 and a twelve month high of $66.54. The company’s 50-day moving average price is $29.63 and its 200-day moving average price is $40.14. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -29.93 and a beta of 1.22.

RxSight (NASDAQ:RXST) last posted its earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.25). The firm had revenue of $40.21 million during the quarter, compared to analyst estimates of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. As a group, equities research analysts predict that RxSight will post -0.7 EPS for the current year.

Insider Activity at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the sale, the director now directly owns 24,793 shares in the company, valued at approximately $637,428.03. This trade represents a 22.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shweta Maniar sold 3,519 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at $227,913.21. The trade was a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in shares of RxSight by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock valued at $1,782,000 after purchasing an additional 240 shares during the last quarter. Quarry LP increased its holdings in RxSight by 82.3% in the third 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. Mountain Capital Investment Advisors Inc. raised its stake in RxSight by 3.8% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock valued at $302,000 after buying an additional 320 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in RxSight by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock worth $1,034,000 after buying an additional 399 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of RxSight by 1.7% during the 4th quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock worth $914,000 after acquiring an additional 445 shares in the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

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.