Top Investors’ Stock Portfolio: 7 Small-Cap Stocks to Invest In

3) RxSight, Inc. (NASDAQ:RXST)

Market Cap as of 9 October: $1.95 billion

Number of Hedge Fund Holders: 34

RxSight, Inc. (NASDAQ:RXST) is a commercial-stage medical device company, which is engaged in R&D, manufacturing, and selling of light adjustable intraocular lenses (LAL) utilized in cataract surgery.

Wall Street believes that RxSight, Inc. (NASDAQ:RXST)’s advancements, which include FDA approval for an extension of the spherical refractive power range for the LAL+, should drive commercial distribution by the end of 2024. The company remains focused on growth in the US and expansion of international regulatory approvals. It continues to capture ~50% of the premium intraocular lens market and improve penetration in existing accounts.

RxSight, Inc. (NASDAQ:RXST) sees a growing demographic of patients considering cataract surgery as a long-term opportunity. Also, positive feedback on the LAL+ lens should fuel utilization growth and contribute to LDD sales. In its recent earnings call, the company highlighted that new customers continue to adopt LAL technology faster, with strong conversion from monofocal and astigmatism correction lenses.

RxSight, Inc. (NASDAQ:RXST) aims to invest significantly in sales, marketing, and R&D in a bid to accelerate internal projects. As per Wall Street, its focus on innovation and market expansion, together with its commitment to customer satisfaction and product development, drives a positive long-term outlook. The company raised its full-year revenue guidance for 2024, which demonstrates confidence in its product offerings and market strategy. FY 2024 revenue should come in the range of $139 million – $140 million.

BTIG Research increased its price objective from $72.00 to $73.00, giving a “Buy” rating on 15^th July.