RxSight, Inc. (NASDAQ:RXST) Receives Consensus Rating of “Buy” from Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST) have earned an average rating of “Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $60.63.

RXST has been the topic of several analyst reports. Oppenheimer raised their price target on shares of RxSight from $61.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Stifel Nicolaus raised their price target on shares of RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Wells Fargo & Company raised their price target on shares of RxSight from $61.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. BTIG Research raised their price target on shares of RxSight from $61.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Needham & Company LLC increased their price objective on shares of RxSight from $64.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th.

Insider Transactions at RxSight

In other news, 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 transaction of $2,406,000.00. Following the transaction, the chief executive officer now directly owns 764,610 shares in the company, valued at approximately $45,991,291.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Ronald M. Md Kurtz sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 764,610 shares in the company, valued at $45,991,291.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $52.69, for a total transaction of $526,900.00. Following the completion of the transaction, the chief financial officer now owns 13,938 shares in the company, valued at approximately $734,393.22. The disclosure for this sale can be found here. Insiders have sold a total of 85,625 shares of company stock worth $4,837,150 in the last three months. Company insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. RiverPark Advisors LLC raised its holdings 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 RxSight in the first quarter valued at approximately $51,000. Amalgamated Bank grew its position in 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 in the last quarter. Clear Rock Advisors LLC acquired a new stake in RxSight in the fourth quarter valued at approximately $172,000. Finally, Clarus Group Inc. acquired a new stake in RxSight in the fourth quarter valued at approximately $202,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Trading Up 1.8 %

Shares of NASDAQ RXST opened at $60.17 on Friday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -47.75 and a beta of 1.22. RxSight has a 52 week low of $20.66 and a 52 week high of $66.54. The company’s 50-day moving average price is $58.42 and its 200 day moving average price is $51.90.

RxSight (NASDAQ:RXST) last released 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 27.68% and a negative net margin of 44.01%. The firm had revenue of $29.51 million for the quarter, compared to analyst estimates of $27.56 million. During the same period in the prior year, the business earned ($0.42) earnings per share. RxSight’s revenue for the quarter was up 68.7% on a year-over-year basis. As a group, research analysts expect that RxSight will post -0.77 earnings per share for the current year.

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.