RxSight, Inc. (NASDAQ:RXST) Receives Consensus Recommendation of “Moderate Buy” from Analysts

RxSight, Inc. (NASDAQ:RXST) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $58.13.

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

RxSight Stock Performance

NASDAQ:RXST opened at $29.81 on Monday. RxSight has a 1 year low of $26.29 and a 1 year high of $66.54. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -35.92 and a beta of 1.19. The business has a fifty day moving average of $33.91 and a 200-day moving average of $44.27.

Insider Activity

In other RxSight news, Director Shweta Maniar sold 3,782 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $45.88, for a total value of $173,518.16. Following the transaction, the director now directly owns 10,902 shares of the company’s stock, valued at $500,183.76. This represents a 25.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ilya Goldshleger sold 3,100 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $45.00, for a total value of $139,500.00. Following the completion of the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $1,901,070. The trade was a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,706 shares of company stock valued at $846,456 over the last three months. Insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RXST. Nisa Investment Advisors LLC increased its holdings in shares of RxSight by 854.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after acquiring an additional 521 shares during the last quarter. Quarry LP increased its holdings in shares of RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of RxSight during the 3rd quarter valued at about $34,000. Private Trust Co. NA acquired a new position in shares of RxSight during the 4th quarter valued at about $34,000. Finally, Coppell Advisory Solutions LLC increased its holdings in shares of RxSight by 108.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company’s stock valued at $44,000 after acquiring an additional 672 shares during the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

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.