RxSight, Inc. (NASDAQ:RXST) Given Consensus Rating of “Buy” by Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have received an average rating of “Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have covered the stock in the last year is $49.63.

Several analysts have recently commented on RXST shares. Stifel Nicolaus raised their target price on RxSight from $54.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. raised their price objective on RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Oppenheimer upped their target price on RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $64.00 price target on shares of RxSight in a research report on Thursday, April 11th.

Insider Activity

In related news, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $56.37, for a total transaction of $563,700.00. Following the completion of the sale, the chief financial officer now owns 13,691 shares in the company, valued at $771,761.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other RxSight news, CFO Shelley B. Thunen sold 31,772 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $47.11, for a total value of $1,496,778.92. Following the completion of the sale, the chief financial officer now owns 6,791 shares in the company, valued at approximately $319,924.01. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Shelley B. Thunen sold 10,000 shares of RxSight stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $56.37, for a total transaction of $563,700.00. Following the transaction, the chief financial officer now directly owns 13,691 shares in the company, valued at approximately $771,761.67. The disclosure for this sale can be found here. Insiders have sold 148,040 shares of company stock worth $7,280,585 over the last 90 days. 21.13% of the stock is currently owned by corporate insiders.

Institutional Trading of RxSight

A number of institutional investors and hedge funds have recently modified their holdings of RXST. JPMorgan Chase & Co. grew its position in RxSight by 52.2% during the first quarter. JPMorgan Chase & Co. now owns 8,227 shares of the company’s stock valued at $102,000 after buying an additional 2,820 shares during the period. Bank of New York Mellon Corp grew its position in shares of RxSight by 123.8% during the 1st quarter. Bank of New York Mellon Corp now owns 38,663 shares of the company’s stock valued at $479,000 after acquiring an additional 21,385 shares during the period. Rhumbline Advisers purchased a new stake in shares of RxSight during the 1st quarter worth approximately $153,000. BlackRock Inc. raised its holdings in shares of RxSight by 86.0% in the 1st quarter. BlackRock Inc. now owns 735,589 shares of the company’s stock worth $9,106,000 after purchasing an additional 340,091 shares during the period. Finally, Vanguard Group Inc. lifted its stake in RxSight by 89.1% in the first quarter. Vanguard Group Inc. now owns 638,813 shares of the company’s stock valued at $7,908,000 after purchasing an additional 301,055 shares during the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

RxSight Stock Performance

RxSight stock opened at $53.26 on Tuesday. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -37.24 and a beta of 1.22. RxSight has a 52-week low of $17.00 and a 52-week high of $58.21. The stock’s 50 day moving average price is $52.20 and its two-hundred day moving average price is $40.27.

RxSight (NASDAQ:RXST) last issued its earnings results on Wednesday, February 28th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.10. The business had revenue of $28.58 million for the quarter, compared to analyst estimates of $28.60 million. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. On average, equities research analysts forecast that RxSight will post -0.94 EPS for the current year.

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.