RxSight, Inc. (NASDAQ:RXST) Given Consensus Recommendation of “Buy” by Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST) have been given a consensus recommendation of “Buy” by the seven brokerages that are covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $65.29.

Several equities research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of RxSight in a report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price target on the stock. Oppenheimer decreased their price target on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Stifel Nicolaus lowered their price objective on shares of RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price target on shares of RxSight in a research note on Friday, September 13th. Finally, Wells Fargo & Company lowered their price target on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th.

Insider Activity at RxSight

In related news, insider Ilya Goldshleger sold 1,330 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $46.13, for a total transaction of $61,352.90. Following the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at $1,948,807.98. This trade represents a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jesse Anderson Corley bought 11,111 shares of RxSight stock in a transaction dated Tuesday, November 12th. The shares were bought at an average cost of $45.37 per share, with a total value of $504,106.07. Following the completion of the transaction, the director now directly owns 468,571 shares in the company, valued at approximately $21,259,066.27. This trade represents a 2.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 65,807 shares of company stock valued at $3,202,275 in the last 90 days. 9.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RxSight

Several hedge funds have recently bought and sold shares of RXST. CWM LLC lifted its stake in RxSight by 727.5% during the second quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after purchasing an additional 371 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in RxSight by 854.1% during the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after acquiring an additional 521 shares in the last quarter. Quarry LP grew its stake in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after acquiring an additional 288 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in RxSight in the 3rd quarter valued at approximately $34,000. Finally, Quest Partners LLC bought a new stake in RxSight in the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Trading Down 5.0 %

Shares of NASDAQ:RXST opened at $43.56 on Wednesday. The firm has a market capitalization of $1.76 billion, a PE ratio of -52.48 and a beta of 1.11. RxSight has a 1-year low of $29.97 and a 1-year high of $66.54. The business’s 50 day moving average is $48.47 and its 200-day moving average is $52.06.

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.