RxSight (NASDAQ:RXST) Given New $36.00 Price Target at Bank of America

RxSight (NASDAQ:RXST) had its target price decreased by Bank of America from $60.00 to $36.00 in a research report released on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

RXST has been the topic of a number of other research reports. UBS Group assumed coverage on RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 price objective on the stock. JPMorgan Chase & Co. decreased their price target on RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus decreased their price target on RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price target on shares of RxSight in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their price target on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, RxSight currently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

RxSight Price Performance

RxSight stock opened at $24.84 on Friday. The stock’s fifty day moving average price is $29.63 and its two-hundred day moving average price is $40.14. RxSight has a one year low of $24.09 and a one year high of $66.54. The firm has a market cap of $1.01 billion, a PE ratio of -29.93 and a beta of 1.22.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The company had revenue of $40.21 million for the quarter, compared to the consensus estimate of $40.23 million. Sell-side analysts expect that RxSight will post -0.7 earnings per share for the current fiscal year.

Insider Activity at RxSight

In other news, Director Jesse Anderson Corley acquired 1,443 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were bought at an average price of $31.18 per share, with a total value of $44,992.74. Following the acquisition, the director now directly owns 1,443 shares in the company, valued at $44,992.74. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the transaction, the director now directly owns 24,793 shares in the company, valued at $637,428.03. The trade was a 22.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP lifted its holdings in RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after buying an additional 288 shares during the period. Point72 Hong Kong Ltd acquired a new position in RxSight during the 3rd quarter worth about $34,000. Private Trust Co. NA acquired a new position in RxSight during the 4th quarter worth about $34,000. State of Wyoming acquired a new position in RxSight during the 4th quarter worth about $37,000. Finally, KBC Group NV lifted its holdings in RxSight by 63.6% during the 3rd quarter. KBC Group NV now owns 1,232 shares of the company’s stock worth $61,000 after buying an additional 479 shares during the period. 78.78% of the stock is owned by institutional investors and hedge funds.

RxSight Company Profile

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.