RxSight (NASDAQ:RXST) PT Raised to $72.00

RxSight (NASDAQ:RXST) had its price target lifted by analysts at Oppenheimer from $61.00 to $72.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 18.69% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Stifel Nicolaus increased their target price on shares of RxSight from $64.00 to $68.00 and gave the company a “buy” rating in a report on Monday. BTIG Research boosted their price target on shares of RxSight from $61.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Needham & Company LLC raised their price objective on RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $60.63.

RxSight Price Performance

Shares of NASDAQ:RXST opened at $60.66 on Tuesday. RxSight has a one year low of $18.72 and a one year high of $66.54. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -42.42 and a beta of 1.21. The company’s fifty day moving average price is $52.95 and its 200-day moving average price is $43.59.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Monday, May 6th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The firm had revenue of $29.51 million for the quarter, compared to analysts’ expectations of $27.56 million. During the same quarter in the previous year, the business earned ($0.42) EPS. The company’s revenue for the quarter was up 68.7% on a year-over-year basis. As a group, equities research analysts expect that RxSight will post -0.94 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Ronald M. Md Kurtz sold 40,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 764,610 shares of the company’s stock, valued at $45,991,291.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other RxSight news, CEO Ronald M. Md Kurtz sold 40,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the transaction, the chief executive officer now directly owns 764,610 shares of the company’s stock, valued at approximately $45,991,291.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction dated 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 directly owns 13,691 shares of the company’s stock, valued at $771,761.67. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,365 shares of company stock worth $5,020,520. 21.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. RiverPark Advisors LLC boosted its position in shares of RxSight by 70.0% during the fourth quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after purchasing an additional 275 shares in the last quarter. Larson Financial Group LLC bought a new position in shares of RxSight in the 1st quarter worth about $51,000. Amalgamated Bank lifted its position in RxSight by 7.7% during the 4th quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock valued at $167,000 after acquiring an additional 298 shares during the period. Clear Rock Advisors LLC bought a new stake in RxSight during the fourth quarter worth about $172,000. Finally, Clarus Group Inc. purchased a new stake in RxSight in the fourth quarter worth about $202,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

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.