RxSight (NASDAQ:RXST) PT Raised to $68.00 at Wells Fargo & Company

RxSight (NASDAQ:RXST) had its price target raised by investment analysts at Wells Fargo & Company from $61.00 to $68.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 12.10% from the stock’s previous close.

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

RxSight Trading Down 2.5 %

RxSight stock opened at $60.66 on Tuesday. The stock has a market cap of $2.24 billion, a P/E ratio of -42.42 and a beta of 1.21. The company has a 50-day moving average price of $52.95 and a 200 day moving average price of $43.59. RxSight has a 12-month low of $18.72 and a 12-month high of $66.54.

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

Insider Buying and Selling

In other RxSight news, COO Ilya Goldshleger sold 10,365 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $50.74, for a total value of $525,920.10. Following the completion of the transaction, the chief operating officer now owns 26,475 shares of the company’s stock, valued at approximately $1,343,341.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other RxSight news, COO Ilya Goldshleger sold 10,365 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $50.74, for a total transaction of $525,920.10. Following the sale, the chief operating officer now owns 26,475 shares in the company, valued at approximately $1,343,341.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $60.15, for a total value of $2,406,000.00. Following the completion of the sale, the chief executive officer now directly owns 764,610 shares in the company, valued at approximately $45,991,291.50. The disclosure for this sale can be found here. Insiders have sold a total of 90,365 shares of company stock valued at $5,020,520 in the last ninety days. Company insiders own 21.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RXST. RiverPark Advisors LLC lifted its position in shares of RxSight by 70.0% during the 4th quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock worth $27,000 after purchasing an additional 275 shares during the last quarter. Larson Financial Group LLC acquired a new position in shares of RxSight during the 1st quarter worth about $51,000. Amalgamated Bank increased its holdings in shares of RxSight by 7.7% in 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 last quarter. Clear Rock Advisors LLC purchased a new position in shares of RxSight in the 4th quarter valued at about $172,000. Finally, Clarus Group Inc. acquired a new stake in shares of RxSight during the 4th quarter worth about $202,000. Institutional investors and hedge funds 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.