RxSight, Inc. (NASDAQ:RXST) Receives $58.13 Average PT from Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have received an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $58.13.

Several research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price target on shares of RxSight in a research report on Monday, January 13th. UBS Group assumed coverage on RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 price target on the stock. Wells Fargo & Company lowered their price target on RxSight from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Jefferies Financial Group assumed coverage on RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price target on the stock. Finally, Stifel Nicolaus dropped their price target on RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday, January 13th.

RxSight Stock Performance

Shares of RxSight stock opened at $31.91 on Thursday. The business’s 50 day simple moving average is $38.10 and its 200 day simple moving average is $46.15. RxSight has a 52-week low of $26.29 and a 52-week high of $66.54. The firm has a market cap of $1.29 billion, a PE ratio of -38.45 and a beta of 1.20.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.18). The company had revenue of $35.31 million for the quarter, compared to analyst estimates of $35.15 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. During the same period last year, the firm earned ($0.35) EPS. As a group, equities research analysts predict that RxSight will post -0.7 EPS for the current year.

Insider Buying and Selling at RxSight

In other news, Director Jesse Anderson Corley acquired 11,111 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were purchased at an average cost of $45.37 per share, with a total value of $504,106.07. Following the acquisition, the director now directly owns 468,571 shares in the company, valued at $21,259,066.27. This represents a 2.43 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ilya Goldshleger sold 3,105 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total value of $161,180.55. Following the completion of the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $2,192,989.86. This represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,697 shares of company stock valued at $1,495,941 in the last ninety days. 9.36% of the stock is currently owned by corporate insiders.

Institutional Trading of RxSight

Several large investors have recently modified their holdings of the stock. Amalgamated Bank grew its holdings in shares of RxSight by 21.3% during the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after purchasing an additional 207 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of RxSight by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock worth $1,782,000 after purchasing an additional 240 shares in the last quarter. Quarry LP grew its holdings in shares of RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of RxSight by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock worth $1,034,000 after purchasing an additional 399 shares in the last quarter. Finally, MCIA Inc grew its holdings in shares of RxSight by 5.7% during the 3rd quarter. MCIA Inc now owns 8,459 shares of the company’s stock worth $385,000 after purchasing an additional 459 shares in the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

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.