RxSight (NASDAQ:RXST) Sets New 52-Week High at $51.15

RxSight, Inc. (NASDAQ:RXSTGet Free Report)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $51.15 and last traded at $50.97, with a volume of 216195 shares. The stock had previously closed at $48.94.

Analysts Set New Price Targets

RXST has been the topic of a number of recent analyst reports. Needham & Company LLC raised their target price on RxSight from $35.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, January 8th. Stifel Nicolaus initiated coverage on RxSight in a report on Tuesday, December 12th. They set a “buy” rating and a $40.00 target price on the stock. Oppenheimer raised their price target on RxSight from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Wells Fargo & Company raised RxSight from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $31.00 to $42.00 in a research report on Wednesday, December 13th. Finally, Morgan Stanley initiated coverage on RxSight in a research report on Monday, December 4th. They set an “overweight” rating and a $36.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $37.63.

View Our Latest Stock Analysis on RXST

RxSight Trading Up 1.7 %

The stock has a 50-day moving average price of $42.27 and a 200 day moving average price of $32.79.

RxSight (NASDAQ:RXSTGet Free Report) last announced its earnings results on Thursday, November 9th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.07. RxSight had a negative return on equity of 39.77% and a negative net margin of 71.87%. The business had revenue of $22.20 million for the quarter, compared to analyst estimates of $20.81 million. Research analysts forecast that RxSight, Inc. will post -1.53 EPS for the current year.

Insider Activity at RxSight

In related news, Director Bakker Juliet Tammenoms sold 100,000 shares of RxSight stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $27.13, for a total value of $2,713,000.00. Following the sale, the director now owns 894,313 shares of the company’s stock, valued at approximately $24,262,711.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Bakker Juliet Tammenoms sold 100,000 shares of RxSight stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $27.13, for a total value of $2,713,000.00. Following the sale, the director now owns 894,313 shares of the company’s stock, valued at approximately $24,262,711.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Shelley B. Thunen sold 9,125 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $47.02, for a total value of $429,057.50. Following the transaction, the chief financial officer now directly owns 13,691 shares in the company, valued at approximately $643,750.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 604,430 shares of company stock valued at $22,560,740. 21.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RXST. JPMorgan Chase & Co. increased its position in shares of RxSight by 4,739.2% during the 1st quarter. JPMorgan Chase & Co. now owns 565,506 shares of the company’s stock worth $9,433,000 after purchasing an additional 553,820 shares during the last quarter. Atika Capital Management LLC acquired a new position in shares of RxSight during the 2nd quarter worth approximately $14,803,000. BlackRock Inc. increased its position in shares of RxSight by 30.6% during the 2nd quarter. BlackRock Inc. now owns 1,629,928 shares of the company’s stock worth $46,942,000 after purchasing an additional 382,119 shares during the last quarter. 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 acquiring an additional 359,295 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of RxSight by 89.1% during the 1st quarter. Vanguard Group Inc. now owns 638,813 shares of the company’s stock worth $7,908,000 after acquiring an additional 301,055 shares during the period. Institutional investors and hedge funds own 66.51% of the company’s stock.

About RxSight

(Get Free Report)

RxSight, Inc, an ophthalmic 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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