RxSight (NASDAQ:RXST) PT Raised to $73.00 at BTIG Research

RxSight (NASDAQ:RXST) had its target price increased by BTIG Research from $72.00 to $73.00 in a report published on Monday, Benzinga reports. BTIG Research currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. Oppenheimer lifted their price target on shares of RxSight from $61.00 to $72.00 and gave the company an outperform rating in a research report on Tuesday, May 7th. Needham & Company LLC lifted their target price on shares of RxSight from $64.00 to $75.00 and gave the stock a buy rating in a report on Tuesday, May 7th. Wells Fargo & Company boosted their target price on shares of RxSight from $61.00 to $68.00 and gave the stock an overweight rating in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus lowered their price target on RxSight from $75.00 to $70.00 and set a buy rating on the stock in a research report on Wednesday, July 10th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $65.14.

RxSight Stock Performance

RxSight stock opened at $46.04 on Monday. The company has a 50 day moving average price of $57.29 and a 200 day moving average price of $53.09. RxSight has a 52 week low of $20.66 and a 52 week high of $66.54. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -36.54 and a beta of 1.20.

RxSight (NASDAQ:RXST) last issued its 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 44.01% and a negative return on equity of 27.68%. The business had revenue of $29.51 million during the quarter, compared to analyst estimates of $27.56 million. During the same quarter in the prior year, the company earned ($0.42) EPS. RxSight’s revenue for the quarter was up 68.7% on a year-over-year basis. Equities analysts forecast that RxSight will post -0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $52.69, for a total value of $526,900.00. Following the sale, the chief financial officer now directly owns 13,938 shares in the company, valued at $734,393.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Shelley B. Thunen sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $52.69, for a total transaction of $526,900.00. Following the completion of the sale, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at approximately $734,393.22. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Julie Andrews sold 15,625 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $58.00, for a total transaction of $906,250.00. Following the completion of the transaction, the director now owns 30,287 shares of the company’s stock, valued at approximately $1,756,646. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,625 shares of company stock worth $4,425,250. Insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several hedge funds have recently modified their holdings of the stock. CWM LLC raised its holdings in shares of RxSight by 727.5% in the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after purchasing an additional 371 shares during the period. RiverPark Advisors LLC raised its stake in 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 buying an additional 275 shares during the period. Larson Financial Group LLC acquired a new stake in shares of RxSight in the first quarter valued at approximately $51,000. Amalgamated Bank boosted its stake in shares of RxSight by 7.7% during the 4th quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock worth $167,000 after acquiring an additional 298 shares during the period. Finally, Clear Rock Advisors LLC acquired a new position in shares of RxSight during the 4th quarter worth approximately $172,000. 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.