Larry Biegelsen, an analyst from Wells Fargo, maintained the Buy rating on RxSight (RXST – Research Report). The associated price target remains the same with $25.00.
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Larry Biegelsen has given his Buy rating due to a combination of factors including RxSight’s encouraging trends in April, which showed an increase in procedures compared to March, suggesting growing momentum. The management believes they have maintained their market share in the PC-IOL category, despite a slight decline in overall cataract volumes in Q1. They also see potential for growth as competitive pressures ease and macroeconomic conditions improve.
Additionally, RxSight’s management is optimistic about the long-term adoption of their LAL technology, which they believe could become the standard of care over time. The company is also focusing on improving workflow efficiencies and expanding their presence internationally, with approvals in Korea and the EU and plans to enter more countries. These strategic initiatives, along with a focus on education and training, are expected to support future growth and contribute to the positive outlook for the company’s stock.
Biegelsen covers the Healthcare sector, focusing on stocks such as Dexcom, Abbott Laboratories, and Medtronic. According to TipRanks, Biegelsen has an average return of 8.7% and a 59.00% success rate on recommended stocks.