Needham & Company LLC Raises RxSight (NASDAQ:RXST) Price Target to $75.00

RxSight (NASDAQ:RXST) had its target price raised by Needham & Company LLC from $64.00 to $75.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

RXST has been the topic of a number of other research reports. Oppenheimer boosted their price target on RxSight from $54.00 to $61.00 and gave the company an outperform rating in a report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on shares of RxSight from $40.00 to $62.00 and gave the company an overweight rating in a research note on Thursday, February 29th. BTIG Research raised their price objective on shares of RxSight from $61.00 to $72.00 and gave the stock a buy rating in a report on Tuesday. Finally, Stifel Nicolaus lifted their target price on shares of RxSight from $64.00 to $68.00 and gave the company a buy rating in a report on Monday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and a consensus price target of $60.63.

RxSight Stock Performance

RXST stock opened at $62.19 on Tuesday. The firm has a market cap of $2.30 billion, a P/E ratio of -43.49 and a beta of 1.21. The firm’s fifty day moving average is $52.86 and its 200 day moving average is $43.32. RxSight has a 52 week low of $18.35 and a 52 week high of $66.54.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.08). RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. The company had revenue of $29.51 million for the quarter, compared to the consensus estimate of $27.56 million. During the same quarter in the previous year, the business earned ($0.42) earnings per share. RxSight’s revenue was up 68.7% compared to the same quarter last year. As a group, analysts forecast that RxSight will post -0.94 EPS for the current year.

Insider Buying and Selling at RxSight

In related news, CEO Ronald M. Md Kurtz sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the completion of the sale, the chief executive officer now directly owns 764,610 shares in the company, valued at $45,991,291.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other RxSight news, CEO Ronald M. Md Kurtz sold 40,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $60.15, for a total value of $2,406,000.00. Following the completion of the sale, the chief executive officer now owns 764,610 shares in the company, valued at $45,991,291.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bakker Juliet Tammenoms acquired 4,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average price of $50.38 per share, with a total value of $201,520.00. Following the completion of the purchase, the director now owns 25,840 shares in the company, valued at approximately $1,301,819.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 90,365 shares of company stock valued at $5,020,520. 21.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On RxSight

Institutional investors have recently bought and sold shares of the business. Lisanti Capital Growth LLC increased its holdings in shares of RxSight by 108.6% in the third quarter. Lisanti Capital Growth LLC now owns 123,205 shares of the company’s stock worth $3,436,000 after purchasing an additional 64,130 shares during the last quarter. Trexquant Investment LP raised its holdings in shares of RxSight by 82.9% during the 3rd quarter. Trexquant Investment LP now owns 47,230 shares of the company’s stock worth $1,317,000 after acquiring an additional 21,401 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of RxSight by 21.6% in the third quarter. Vanguard Group Inc. now owns 1,433,953 shares of the company’s stock valued at $39,993,000 after purchasing an additional 255,150 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in RxSight by 263.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 243,346 shares of the company’s stock valued at $6,787,000 after purchasing an additional 176,451 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of RxSight by 17.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,437,765 shares of the company’s stock worth $67,989,000 after buying an additional 359,295 shares during the last quarter. Hedge funds and other institutional investors 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.