RxSight, Inc. (NASDAQ:RXST) Receives $58.43 Average Target Price from Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have been assigned a consensus recommendation of “Buy” from the seven analysts that are covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued a report on the stock in the last year is $60.14.

Several brokerages recently issued reports on RXST. BTIG Research lifted their target price on RxSight from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Wells Fargo & Company lowered their target price on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Oppenheimer cut their target price on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Stifel Nicolaus decreased their price target on shares of RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Needham & Company LLC raised their price objective on RxSight from $54.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday.

Insider Buying and Selling

In other news, CFO Shelley B. Thunen sold 10,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $58.61, for a total transaction of $586,100.00. Following the transaction, the chief financial officer now owns 13,938 shares of the company’s stock, valued at approximately $816,906.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $58.61, for a total transaction of $586,100.00. Following the transaction, the chief financial officer now owns 13,938 shares of the company’s stock, valued at approximately $816,906.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julie Andrews sold 15,625 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $58.00, for a total value of $906,250.00. Following the completion of the transaction, the director now directly owns 30,287 shares of the company’s stock, valued at $1,756,646. The disclosure for this sale can be found here. Insiders have sold a total of 34,625 shares of company stock valued at $1,845,600 over the last quarter. 9.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RxSight

Several hedge funds have recently modified their holdings of RXST. Arizona State Retirement System acquired a new stake in shares of RxSight during the fourth quarter worth $261,000. New York State Common Retirement Fund grew its stake in RxSight by 25.8% during the 4th quarter. New York State Common Retirement Fund now owns 135,438 shares of the company’s stock valued at $5,461,000 after purchasing an additional 27,758 shares during the last quarter. Precision Wealth Strategies LLC acquired a new position in shares of RxSight in the fourth quarter valued at about $287,000. Thompson Davis & CO. Inc. acquired a new stake in shares of RxSight during the fourth quarter worth about $212,000. Finally, Victory Capital Management Inc. boosted its position in RxSight by 108.6% in the fourth quarter. Victory Capital Management Inc. now owns 256,684 shares of the company’s stock valued at $10,349,000 after buying an additional 133,642 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Trading Down 0.2 %

Shares of NASDAQ:RXST opened at $53.67 on Monday. The stock has a 50 day moving average of $51.64 and a 200 day moving average of $53.71. RxSight has a 12-month low of $20.66 and a 12-month high of $66.54.

RxSight (NASDAQ:RXST) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.06. RxSight had a negative net margin of 31.92% and a negative return on equity of 19.33%. The firm had revenue of $34.89 million for the quarter, compared to the consensus estimate of $32.33 million. During the same period last year, the firm earned ($0.40) EPS. The company’s revenue was up 67.6% 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.