RxSight, Inc. (NASDAQ:RXST – Get Free Report)’s share price gapped up before the market opened on Tuesday after Wells Fargo & Company raised their price target on the stock from $61.00 to $68.00. The stock had previously closed at $62.84, but opened at $66.54. Wells Fargo & Company currently has an overweight rating on the stock. RxSight shares last traded at $64.77, with a volume of 92,056 shares traded.
Other equities analysts have also issued research reports about the company. Needham & Company LLC lifted their price target on RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus upped their price objective on shares of RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. upped their target price on RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Oppenheimer upped their price objective on RxSight from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, BTIG Research lifted their target price on shares of RxSight from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $60.63.
Get Our Latest Research Report on RXST
Insider Activity
Hedge Funds Weigh In On RxSight
Hedge funds have recently bought and sold shares of the company. Inspire Investing LLC bought a new position in shares of RxSight in the first quarter valued at approximately $917,000. Swiss National Bank grew its stake in RxSight by 16.2% in the 1st quarter. Swiss National Bank now owns 53,100 shares of the company’s stock valued at $2,739,000 after purchasing an additional 7,400 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of RxSight during the 1st quarter valued at $364,000. Quantbot Technologies LP boosted its holdings in shares of RxSight by 8.4% in the 1st quarter. Quantbot Technologies LP now owns 53,686 shares of the company’s stock worth $2,769,000 after buying an additional 4,167 shares during the last quarter. Finally, Larson Financial Group LLC purchased a new position in RxSight in the first quarter valued at about $51,000. 78.78% of the stock is owned by hedge funds and other institutional investors.
RxSight Trading Down 1.0 %
The stock has a market capitalization of $2.30 billion, a P/E ratio of -43.49 and a beta of 1.21. The stock’s 50-day moving average price is $52.86 and its two-hundred day moving average price is $43.32.
RxSight (NASDAQ:RXST – Get Free Report) last released its earnings results on Monday, May 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $29.51 million during the quarter, compared to analysts’ expectations of $27.56 million. During the same period in the prior year, the business earned ($0.42) earnings per share. The business’s quarterly revenue was up 68.7% compared to the same quarter last year. On average, equities research analysts predict that RxSight, Inc. will post -0.94 earnings per share for the current year.
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.
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