RxSight (NASDAQ:RXST) PT Raised to $68.00

RxSight (NASDAQ:RXST) had its price objective raised by analysts at Stifel Nicolaus from $64.00 to $68.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 9.34% from the stock’s current price.

RXST has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Oppenheimer lifted their target price on RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $64.00 target price on shares of RxSight in a report on Thursday, April 11th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $60.63.

RxSight Stock Down 1.0 %

NASDAQ:RXST opened at $62.19 on Monday. RxSight has a 12-month low of $18.35 and a 12-month high of $66.54. The firm has a market capitalization of $2.30 billion, a P/E ratio of -43.49 and a beta of 1.21. The stock’s fifty day simple moving average is $52.86 and its 200-day simple moving average is $43.32.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.08). RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. The company had revenue of $29.51 million during the quarter, compared to the consensus estimate of $27.56 million. During the same quarter in the prior year, the business earned ($0.42) earnings per share. The firm’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 earnings per share for the current year.

Insider Activity

In other news, Director Bakker Juliet Tammenoms purchased 4,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were bought at an average cost of $50.38 per share, for a total transaction of $201,520.00. Following the completion of the acquisition, the director now directly owns 25,840 shares in the company, valued at approximately $1,301,819.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Ronald M. Md Kurtz sold 40,000 shares of RxSight stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $60.15, for a total value of $2,406,000.00. Following the sale, the chief executive officer now owns 764,610 shares of the company’s stock, valued at $45,991,291.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bakker Juliet Tammenoms bought 4,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $50.38 per share, for a total transaction of $201,520.00. Following the transaction, the director now owns 25,840 shares of the company’s stock, valued at approximately $1,301,819.20. The disclosure for this purchase can be found here. Insiders have sold a total of 90,365 shares of company stock worth $5,020,520 over the last three months. Corporate insiders own 21.13% of the company’s stock.

Institutional Trading of RxSight

Hedge funds and other institutional investors have recently modified their holdings of the stock. RiverPark Advisors LLC increased its position in shares of RxSight by 70.0% in the fourth quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after acquiring an additional 275 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in shares of RxSight in the third quarter valued at about $32,000. Larson Financial Group LLC acquired a new stake in shares of RxSight in the first quarter valued at about $51,000. Amalgamated Bank increased its position in shares of RxSight by 7.7% in the fourth 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. Finally, Clear Rock Advisors LLC acquired a new stake in shares of RxSight in the fourth quarter valued at about $172,000. 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.