RxSight, Inc. (NASDAQ:RXST) Receives Consensus Rating of “Reduce” from Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have received an average recommendation of “Reduce” from the fifteen ratings firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $9.7778.

A number of analysts recently issued reports on the company. Piper Sandler lowered their target price on RxSight from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, February 26th. William Blair initiated coverage on shares of RxSight in a report on Friday, January 30th. They issued a “market perform” rating on the stock. UBS Group upped their target price on shares of RxSight from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, February 26th. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of RxSight in a research note on Thursday, February 26th. Finally, Wolfe Research upgraded shares of RxSight to an “outperform” rating in a research note on Friday, January 30th.

Institutional Investors Weigh In On RxSight

Several hedge funds have recently bought and sold shares of the company. Millennium Management LLC lifted its stake in RxSight by 130.6% in the 3rd quarter. Millennium Management LLC now owns 2,193,062 shares of the company’s stock valued at $19,716,000 after purchasing an additional 1,241,885 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in RxSight by 23.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,157,264 shares of the company’s stock valued at $22,479,000 after purchasing an additional 403,581 shares during the last quarter. No Street GP LP lifted its stake in RxSight by 35.4% in the 3rd quarter. No Street GP LP now owns 1,625,000 shares of the company’s stock valued at $14,609,000 after purchasing an additional 425,000 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in RxSight by 8.0% in the 4th quarter. BNP Paribas Financial Markets now owns 975,744 shares of the company’s stock valued at $10,167,000 after purchasing an additional 71,898 shares during the last quarter. Finally, State Street Corp lifted its stake in RxSight by 3.0% in the 4th quarter. State Street Corp now owns 848,977 shares of the company’s stock valued at $8,846,000 after purchasing an additional 24,833 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

RxSight Stock Performance

NASDAQ:RXST opened at $7.22 on Friday. The stock’s 50-day simple moving average is $7.45 and its 200 day simple moving average is $9.05. The company has a market cap of $297.97 million, a P/E ratio of -7.60 and a beta of 1.22. RxSight has a 52-week low of $5.90 and a 52-week high of $16.74.

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.