Stifel Nicolaus Lowers RxSight (NASDAQ:RXST) Price Target to $35.00

RxSight (NASDAQ:RXST) had its price objective decreased by equities research analysts at Stifel Nicolaus from $40.00 to $35.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 22.98% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. UBS Group initiated coverage on RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 price target on the stock. 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 report on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of RxSight in a research report on Monday. Finally, Jefferies Financial Group started coverage on RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price on the stock. Two 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.38.

RxSight Price Performance

Shares of NASDAQ:RXST traded down $4.97 on Monday, reaching $28.46. 980,444 shares of the company traded hands, compared to its average volume of 649,202. The stock has a market capitalization of $1.15 billion, a PE ratio of -34.29 and a beta of 1.20. The company’s 50 day moving average is $41.02 and its 200-day moving average is $47.58. RxSight has a fifty-two week low of $26.29 and a fifty-two week high of $66.54.

Insider Transactions at RxSight

In other RxSight news, insider Ilya Goldshleger sold 3,105 shares of RxSight stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $50.09, for a total value of $155,529.45. Following the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at $2,116,102.14. The trade was a 6.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Shweta Maniar sold 3,782 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value of $173,518.16. Following the completion of the sale, the director now directly owns 10,902 shares of the company’s stock, valued at $500,183.76. This represents a 25.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,002 shares of company stock worth $1,959,796. 9.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RxSight

Several large investors have recently bought and sold shares of RXST. Nisa Investment Advisors LLC raised its position in shares of RxSight by 854.1% during the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after buying an additional 521 shares during the last quarter. Quarry LP lifted its position in shares of RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after acquiring an additional 288 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of RxSight in the third quarter valued at $34,000. Quest Partners LLC bought a new position in RxSight in the second quarter worth $41,000. Finally, KBC Group NV lifted its position in RxSight by 63.6% in the third quarter. KBC Group NV now owns 1,232 shares of the company’s stock worth $61,000 after purchasing an additional 479 shares during the period. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.