RxSight (NASDAQ:RXST) PT Raised to $72.00

RxSight (NASDAQ:RXST) had its price objective boosted by equities researchers at BTIG Research from $61.00 to $72.00 in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 18.69% from the company’s current price.

A number of other brokerages have also weighed in on RXST. Oppenheimer boosted their price objective on shares of RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upped 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. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of RxSight in a report on Thursday, April 11th. Finally, Stifel Nicolaus increased their target price on RxSight from $64.00 to $68.00 and gave the company a “buy” rating in a report on Monday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $60.63.

RxSight Stock Down 2.5 %

RXST opened at $60.66 on Tuesday. The business’s fifty day simple moving average is $52.95 and its 200 day simple moving average is $43.59. RxSight has a 52 week low of $18.72 and a 52 week high of $66.54. The stock has a market cap of $2.24 billion, a PE ratio of -42.42 and a beta of 1.21.

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

Insider Transactions at RxSight

In other RxSight news, CEO Ronald M. Md Kurtz sold 40,000 shares of the company’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 completion of the transaction, the chief executive officer now owns 764,610 shares of the company’s stock, valued at approximately $45,991,291.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 20,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $49.90, for a total transaction of $998,000.00. Following the completion of the sale, the chief financial officer now directly owns 8,402 shares of the company’s stock, valued at $419,259.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,365 shares of company stock worth $5,020,520. Company insiders own 21.13% of the company’s stock.

Institutional Trading of RxSight

Large investors have recently bought and sold shares of the company. RiverPark Advisors LLC lifted its stake in shares of RxSight by 70.0% in the 4th quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after purchasing an additional 275 shares during the period. Larson Financial Group LLC bought a new position in RxSight in the first quarter worth $51,000. Amalgamated Bank lifted its position in RxSight by 7.7% during the fourth quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock valued at $167,000 after buying an additional 298 shares during the period. Clear Rock Advisors LLC bought a new stake in shares of RxSight during the 4th quarter valued at $172,000. Finally, Clarus Group Inc. purchased a new stake in shares of RxSight in the 4th quarter worth about $202,000. 78.78% of the stock is owned by institutional investors.

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.