Jefferies Begins Coverage on RxSight (RXST), Assigns Buy Rating

Published On: October 30, 2024 7:21 am

Jefferies Sees Promise in RxSight with New Buy Rating

Analysts Predict Significant Growth

On October 29, 2024, Jefferies began coverage of RxSight (NasdaqGM:RXST) with a Buy recommendation. According to data from October 22, 2024, the average one-year price target for RxSight stands at $66.15 per share. Currently, forecasts vary between a low of $54.54 and a high of $78.75, suggesting a potential increase of 26.83% from its most recent closing price of $52.16 per share.

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Financial Outlook for RxSight

Projected annual revenue for RxSight is set at $112 million, reflecting a slight decline of 3.11%. The anticipated annual non-GAAP earnings per share (EPS) sits at -1.72.

Current Fund Sentiment

RxSight is attracting attention from 458 funds and institutions, an increase of 31 owners or 7.26% compared to the previous quarter. The average portfolio weight dedicated to RxSight by these funds is currently 0.22%, an increase of 2.66%. In total, institutional ownership rose by 3.46% over the last three months, reaching 38,315K shares. Notably, the put/call ratio for RXST is 0.13, indicating a generally bullish sentiment.

Institutional Shareholding Patterns

Ra Capital Management is the largest stakeholder, holding 3,695K shares, which is 9.31% of the company. Their latest filing shows a 6.82% increase from a previous 3,443K shares. Over the last quarter, they boosted their allocation in RxSight by 29.13%.

Lord, Abbett & Co. holds 1,735K shares, accounting for 4.37% ownership. However, they reported a decrease of 2.14% from their previous holding of 1,772K shares. They did increase their overall portfolio allocation in RxSight by 17.10% during the quarter.

Artisan Partners Limited Partnership owns 1,334K shares, which is 3.36% of the company. This reflects a significant decrease of 42.11% from their prior holding of 1,896K shares. Their allocation dropped by 14.90% over the last quarter.

Vanguard Total Stock Market Index Fund (VTSMX) has increased its position to 1,107K shares, signifying 2.79% ownership. This is a rise of 27.83% from the previously reported 799K shares, resulting in a 57.19% increase in allocation.

Invesco also added to its holdings, now owning 1,054K shares, or 2.66% of the company, up 27.06% from 769K shares. This marks a 57.46% increase in their portfolio allocation.

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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.