RxSight (NASDAQ:RXST) Price Target Cut to $9.00 by Analysts at Stifel Nicolaus

RxSight (NASDAQ:RXST) had its price objective lowered by equities researchers at Stifel Nicolaus from $10.00 to $9.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 17.04% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $13.00 target price on shares of RxSight in a report on Thursday, February 26th. UBS Group raised their target price on RxSight from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Morgan Stanley upped their price target on RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 2nd. William Blair started coverage on shares of RxSight in a report on Friday, January 30th. They set a “market perform” rating for the company. Finally, Piper Sandler dropped their price target on shares of RxSight from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $9.78.

RxSight Price Performance

RxSight stock opened at $7.69 on Monday. The business has a 50 day moving average of $8.99 and a 200-day moving average of $9.48. The company has a market capitalization of $317.37 million, a P/E ratio of -8.09 and a beta of 1.16. RxSight has a 1 year low of $6.32 and a 1 year high of $27.13.

Institutional Investors Weigh In On RxSight

A number of institutional investors and hedge funds have recently modified their holdings of RXST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in RxSight by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock worth $552,000 after acquiring an additional 1,232 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of RxSight by 57.9% in the first quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock worth $7,838,000 after purchasing an additional 113,767 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of RxSight by 9.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company’s stock worth $2,358,000 after buying an additional 8,424 shares in the last quarter. Future Fund LLC bought a new stake in RxSight during the second quarter valued at $608,000. Finally, SG Americas Securities LLC grew its position in RxSight by 83.6% during the second quarter. SG Americas Securities LLC now owns 66,600 shares of the company’s stock worth $866,000 after buying an additional 30,333 shares in the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

RxSight Company Profile

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.