Morgan Stanley analyst Patrick Wood maintained a Hold rating on RxSight yesterday and set a price target of $9.00.
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Patrick Wood has given his Hold rating due to a combination of factors influencing RxSight’s current market position and future prospects. Despite facing challenges over the past year, RxSight is optimistic about its long-term growth, supported by demographic trends and changes in the reimbursement landscape. The anticipated reduction in Medicare reimbursement for monofocal procedures in 2026 could lead to increased adoption of premium lenses, including RxSight’s LAL, which is already seeing interest from private equity-backed practices.
However, the company is cautious about broader macroeconomic uncertainties and the recent slowdown in LAL/LDD utilization, particularly among newer physicians. While RxSight has taken strategic steps, such as reorganizing its sales force to address these slowdowns, near-term visibility remains limited. The company is confident in its ability to capture market share, but the immediate future presents challenges that justify a Hold rating.
In another report released on September 6, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $9.00 price target.