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

Shares of RxSight, Inc. (NASDAQ:RXST) have been given a consensus rating of “Buy” by the seven research firms that are covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $60.14.

Several equities analysts have recently commented on RXST shares. Stifel Nicolaus decreased their price objective on shares of RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Wells Fargo & Company decreased their target price on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. BTIG Research lifted their target price on RxSight from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Needham & Company LLC boosted their price target on shares of RxSight from $54.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Oppenheimer lowered their price objective 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.

RxSight Price Performance

Shares of RXST stock opened at $54.54 on Friday. The company has a market capitalization of $2.02 billion, a PE ratio of -43.29 and a beta of 1.22. The firm’s 50-day moving average is $50.82 and its two-hundred day moving average is $54.02. RxSight has a 12 month low of $20.66 and a 12 month high of $66.54.

RxSight (NASDAQ:RXST) last released its quarterly earnings results 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 analyst estimates of $32.33 million. During the same quarter in the previous year, the company earned ($0.40) EPS. The business’s revenue for the quarter was up 67.6% compared to the same quarter last year. Sell-side analysts forecast that RxSight will post -0.81 EPS for the current year.

Insider Buying and Selling

In other news, insider Ilya Goldshleger sold 9,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $39.25, for a total value of $353,250.00. Following the sale, the insider now directly owns 42,246 shares in the company, valued at approximately $1,658,155.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $58.61, for a total value of $586,100.00. Following the completion of the transaction, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at $816,906.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ilya Goldshleger sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $39.25, for a total transaction of $353,250.00. Following the sale, the insider now directly owns 42,246 shares in the company, valued at approximately $1,658,155.50. The disclosure for this sale can be found here. Insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RXST. RA Capital Management L.P. boosted its stake in RxSight by 1.1% in the first quarter. RA Capital Management L.P. now owns 3,442,825 shares of the company’s stock valued at $177,581,000 after acquiring an additional 38,540 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of RxSight by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company’s stock valued at $78,634,000 after purchasing an additional 40,500 shares during the period. Driehaus Capital Management LLC grew its stake in RxSight by 74.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock worth $42,490,000 after buying an additional 302,367 shares during the last quarter. Parkman Healthcare Partners LLC increased its position in RxSight by 34.5% during the fourth quarter. Parkman Healthcare Partners LLC now owns 513,032 shares of the company’s stock worth $20,685,000 after buying an additional 131,701 shares during the period. Finally, Baillie Gifford & Co. lifted its stake in RxSight by 438.8% in the second quarter. Baillie Gifford & Co. now owns 358,215 shares of the company’s stock valued at $21,554,000 after buying an additional 291,733 shares during the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

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.