RxSight (NASDAQ:RXST) Price Target Lowered to $40.00 at JPMorgan Chase & Co.

RxSight (NASDAQ:RXST) had its price target cut by JPMorgan Chase & Co. from $62.00 to $40.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

RXST has been the topic of a number of other research reports. UBS Group started coverage on RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 price target on the stock. Wells Fargo & Company lowered their price target on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of RxSight in a report on Wednesday. Jefferies Financial Group assumed coverage on RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price on the stock. Finally, Stifel Nicolaus reduced their target price on RxSight from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.63.

RxSight Trading Down 0.8 %

NASDAQ RXST opened at $28.97 on Wednesday. The business’s 50 day moving average is $32.61 and its two-hundred day moving average is $43.37. RxSight has a 12-month low of $26.29 and a 12-month high of $66.54. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -34.90 and a beta of 1.19.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 14.00% and a negative net margin of 23.92%. Equities analysts forecast that RxSight will post -0.7 earnings per share for the current fiscal year.

Insider Activity at RxSight

In other RxSight news, Director Shweta Maniar sold 3,519 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total transaction of $108,631.53. Following the transaction, the director now owns 7,383 shares of the company’s stock, valued at $227,913.21. This represents a 32.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jesse Anderson Corley purchased 1,443 shares of RxSight stock in a transaction on Wednesday, January 15th. The shares were acquired at an average cost of $31.18 per share, for a total transaction of $44,992.74. Following the purchase, the director now owns 1,443 shares in the company, valued at approximately $44,992.74. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. RA Capital Management L.P. lifted its stake in shares of RxSight by 6.0% during the 3rd quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock worth $193,609,000 after purchasing an additional 222,000 shares during the period. Vanguard Group Inc. raised its position in shares of RxSight by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company’s stock worth $81,946,000 after buying an additional 96,464 shares during the period. Bank of America Corp DE raised its position in shares of RxSight by 23.7% in the 4th quarter. Bank of America Corp DE now owns 2,159,923 shares of the company’s stock worth $74,258,000 after buying an additional 413,737 shares during the period. Artisan Partners Limited Partnership raised its position in shares of RxSight by 32.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock worth $53,345,000 after buying an additional 381,389 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of RxSight by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 830,758 shares of the company’s stock worth $28,568,000 after buying an additional 13,641 shares during the period. 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.