RxSight (NASDAQ:RXST) Price Target Raised to $68.00

RxSight (NASDAQ:RXST) had its price objective upped by Stifel Nicolaus from $64.00 to $68.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on the company. Needham & Company LLC reiterated a buy rating and set a $64.00 price objective on shares of RxSight in a research report on Thursday, April 11th. 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 report on Thursday, February 29th. Finally, Oppenheimer upped their price objective on shares of RxSight from $54.00 to $61.00 and gave the company an outperform 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, the company presently has a consensus rating of Buy and a consensus price target of $60.63.

RxSight Trading Down 2.5 %

NASDAQ:RXST opened at $60.66 on Monday. The company has a market capitalization of $2.24 billion, a P/E ratio of -42.42 and a beta of 1.21. The firm has a 50-day moving average price of $52.95 and a two-hundred day moving average price of $43.59. RxSight has a twelve month low of $18.72 and a twelve month high of $66.54.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data 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). The company had revenue of $29.51 million for the quarter, compared to analyst estimates of $27.56 million. RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. The company’s revenue for the quarter was up 68.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. On average, equities research analysts predict that RxSight will post -0.94 earnings per share for the current year.

Insider Buying and Selling at RxSight

In related news, COO Ilya Goldshleger sold 10,365 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $50.74, for a total value of $525,920.10. Following the transaction, the chief operating officer now directly owns 26,475 shares of the company’s stock, valued at approximately $1,343,341.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Ronald M. Md Kurtz sold 40,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was 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 owns 764,610 shares in the company, valued at approximately $45,991,291.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $525,920.10. Following the completion of the transaction, the chief operating officer now owns 26,475 shares in the company, valued at approximately $1,343,341.50. The disclosure for this sale can be found here. Insiders have sold a total of 90,365 shares of company stock worth $5,020,520 in the last quarter. 21.13% of the stock is owned by insiders.

Institutional Investors Weigh In On RxSight

Several large investors have recently made changes to their positions in RXST. Artisan Partners Limited Partnership boosted its position in 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. Lord Abbett & CO. LLC boosted its position in shares of RxSight by 13.8% in the third quarter. Lord Abbett & CO. LLC now owns 1,628,320 shares of the company’s stock worth $45,414,000 after buying an additional 197,099 shares during the period. Vanguard Group Inc. grew 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 buying an additional 255,150 shares in the last quarter. Parkman Healthcare Partners LLC lifted its position in RxSight by 34.5% during the 4th quarter. Parkman Healthcare Partners LLC now owns 513,032 shares of the company’s stock worth $20,685,000 after acquiring an additional 131,701 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in RxSight by 108.6% in the 4th quarter. Victory Capital Management Inc. now owns 256,684 shares of the company’s stock worth $10,349,000 after acquiring an additional 133,642 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Company Profile

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.