RxSight (NASDAQ:RXST) Given New $68.00 Price Target at Wells Fargo & Company

RxSight (NASDAQ:RXST) had its price objective hoisted by Wells Fargo & Company from $61.00 to $68.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Oppenheimer lifted their price objective on RxSight from $61.00 to $72.00 and gave the stock an outperform rating in a report on Tuesday. BTIG Research upped their price target on shares of RxSight from $61.00 to $72.00 and gave the company a buy rating in a research report on Tuesday. Needham & Company LLC raised their price objective on shares of RxSight from $64.00 to $75.00 and gave the stock a buy rating in a report on Tuesday. Stifel Nicolaus upped 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of RxSight from $40.00 to $62.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $60.63.

RxSight Price Performance

RxSight stock opened at $62.19 on Tuesday. RxSight has a one year low of $18.35 and a one year high of $66.54. The business’s fifty day moving average is $52.86 and its 200 day moving average is $43.32. The stock has a market capitalization of $2.30 billion, a PE ratio of -43.49 and a beta of 1.21.

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

Insider Activity

In other news, Director Bakker Juliet Tammenoms bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average price of $50.38 per share, with a total value of $201,520.00. Following the acquisition, the director now owns 25,840 shares of the company’s stock, valued at approximately $1,301,819.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Bakker Juliet Tammenoms acquired 4,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was purchased at an average price of $50.38 per share, for a total transaction of $201,520.00. Following the completion of the transaction, the director now directly owns 25,840 shares in the company, valued at approximately $1,301,819.20. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, COO Ilya Goldshleger sold 10,365 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $50.74, for a total value of $525,920.10. Following the transaction, the chief operating officer now owns 26,475 shares of the company’s stock, valued at approximately $1,343,341.50. The disclosure for this sale can be found here. Insiders have sold 90,365 shares of company stock worth $5,020,520 in the last three months. Company insiders own 21.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lisanti Capital Growth LLC lifted its stake in shares of RxSight by 108.6% in the 3rd quarter. Lisanti Capital Growth LLC now owns 123,205 shares of the company’s stock valued at $3,436,000 after purchasing an additional 64,130 shares during the last quarter. Trexquant Investment LP boosted its stake in RxSight by 82.9% during the third quarter. Trexquant Investment LP now owns 47,230 shares of the company’s stock worth $1,317,000 after buying an additional 21,401 shares during the period. Vanguard Group Inc. raised its stake 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 acquiring an additional 255,150 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of RxSight by 263.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 243,346 shares of the company’s stock worth $6,787,000 after acquiring an additional 176,451 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of RxSight by 17.3% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,437,765 shares of the company’s stock worth $67,989,000 after purchasing an additional 359,295 shares during the period. 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.