Analysts Set RxSight, Inc. (NASDAQ:RXST) PT at $49.63

RxSight, Inc. (NASDAQ:RXST) has been given a consensus recommendation of “Buy” by the six analysts that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $49.63.

A number of research firms recently weighed in on RXST. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of RxSight in a research note on Thursday, April 11th. Stifel Nicolaus increased their price objective on RxSight from $54.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Oppenheimer increased their price target on shares of RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th.

RxSight Trading Up 1.5 %

RxSight stock opened at $52.34 on Tuesday. The business’s 50 day simple moving average is $52.56 and its 200 day simple moving average is $41.18. RxSight has a 12 month low of $17.09 and a 12 month high of $58.21. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -36.60 and a beta of 1.22.

RxSight (NASDAQ:RXST) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. The business had revenue of $28.58 million for the quarter, compared to analysts’ expectations of $28.60 million. RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. As a group, equities research analysts forecast that RxSight will post -0.94 earnings per share for the current fiscal year.

Insider Activity at RxSight

In other news, CFO Shelley B. Thunen sold 31,772 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 6,791 shares of the company’s stock, valued at approximately $319,924.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Eric Weinberg sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $50.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now directly owns 299,978 shares in the company, valued at approximately $14,998,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief financial officer now owns 6,791 shares in the company, valued at $319,924.01. The disclosure for this sale can be found here. Insiders have sold 126,641 shares of company stock valued at $6,268,022 over the last three months. 21.13% of the stock is owned by corporate insiders.

Institutional Trading of RxSight

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lisanti Capital Growth LLC raised its stake in shares of RxSight by 108.6% during the third quarter. Lisanti Capital Growth LLC now owns 123,205 shares of the company’s stock worth $3,436,000 after acquiring an additional 64,130 shares in the last quarter. Trexquant Investment LP raised its position in RxSight by 82.9% in the 3rd quarter. Trexquant Investment LP now owns 47,230 shares of the company’s stock worth $1,317,000 after purchasing an additional 21,401 shares during the period. Vanguard Group Inc. lifted its stake in RxSight by 21.6% in the third quarter. Vanguard Group Inc. now owns 1,433,953 shares of the company’s stock worth $39,993,000 after purchasing an additional 255,150 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in RxSight by 263.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 243,346 shares of the company’s stock valued at $6,787,000 after buying an additional 176,451 shares during the period. Finally, Artisan Partners Limited Partnership grew its stake in shares of RxSight by 17.3% during the third quarter. Artisan Partners Limited Partnership now owns 2,437,765 shares of the company’s stock valued at $67,989,000 after buying an additional 359,295 shares during the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

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.