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

RxSight (NASDAQ:RXST) had its target price lowered by research analysts at JPMorgan Chase & Co. from $62.00 to $40.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 45.27% from the stock’s current price.

Several other analysts have also issued reports on the company. Stifel Nicolaus dropped their price objective on RxSight from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Wednesday. UBS Group initiated coverage on RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price on the stock. Wells Fargo & Company decreased their price target on RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $43.00 price objective on shares of RxSight in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, RxSight currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.63.

RxSight Stock Down 5.7 %

NASDAQ:RXST traded down $1.68 during trading hours on Wednesday, hitting $27.54. 561,023 shares of the stock were exchanged, compared to its average volume of 602,333. The company has a market capitalization of $1.11 billion, a P/E ratio of -33.17 and a beta of 1.19. RxSight has a twelve month low of $26.29 and a twelve month high of $66.54. The company’s 50 day moving average is $32.78 and its two-hundred day moving average is $43.47.

RxSight (NASDAQ:RXST) last issued its earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share (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. On average, equities research analysts expect that RxSight will post -0.7 EPS for the current year.

Insider Buying and Selling at RxSight

In other news, Director Jesse Anderson Corley bought 1,443 shares of RxSight stock in a transaction dated Wednesday, January 15th. The stock was bought at an average price of $31.18 per share, for a total transaction of $44,992.74. Following the purchase, the director now owns 1,443 shares of the company’s stock, valued at approximately $44,992.74. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ilya Goldshleger sold 3,105 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $46.08, for a total transaction of $143,078.40. Following the completion of the transaction, the insider now owns 42,246 shares in the company, valued at approximately $1,946,695.68. This trade represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Several institutional investors have recently bought and sold shares of RXST. RA Capital Management L.P. raised its holdings in shares of RxSight by 6.0% in the 3rd quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock worth $193,609,000 after buying an additional 222,000 shares in the last quarter. Vanguard Group Inc. increased its stake 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 valued at $81,946,000 after acquiring an additional 96,464 shares in the last quarter. Bank of America Corp DE lifted its position in shares of RxSight by 23.7% during 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 in the last quarter. Artisan Partners Limited Partnership lifted its stake in 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 purchasing an additional 381,389 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 last quarter. Institutional investors and hedge funds 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.