RxSight (NASDAQ:RXST) Rating Reiterated by Needham & Company LLC

RxSight (NASDAQ:RXST)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research note issued on Friday, Benzinga reports. They presently have a $66.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 20.09% from the company’s current price.

Other research analysts have also issued research reports about the company. Stifel Nicolaus cut their price target on RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Oppenheimer cut their target price on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Wells Fargo & Company decreased their price target on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, BTIG Research upped their price objective on shares of RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, RxSight has an average rating of “Buy” and a consensus target price of $60.14.

RxSight Stock Up 0.8 %

Shares of RxSight stock opened at $54.96 on Friday. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -43.62 and a beta of 1.22. RxSight has a twelve month low of $20.66 and a twelve month high of $66.54. The company’s fifty day moving average is $50.78 and its 200 day moving average is $53.98.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The firm had revenue of $34.89 million for the quarter, compared to the consensus estimate of $32.33 million. RxSight had a negative net margin of 31.92% and a negative return on equity of 19.33%. The company’s revenue for the quarter was up 67.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.40) EPS. As a group, equities analysts anticipate that RxSight will post -0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related 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 completion of the sale, the chief financial officer now owns 13,938 shares in the company, valued at $816,906.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ilya Goldshleger sold 9,000 shares of RxSight stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $39.25, for a total transaction of $353,250.00. Following the completion of 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 Trading of RxSight

Several hedge funds have recently made changes to their positions in RXST. Amalgamated Bank grew its stake in shares of RxSight by 21.3% during the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after acquiring an additional 207 shares during the period. Crossmark Global Holdings Inc. boosted its position in RxSight by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 7,861 shares of the company’s stock worth $473,000 after purchasing an additional 242 shares during the period. RiverPark Advisors LLC increased its stake in shares of RxSight by 9.6% in the second quarter. RiverPark Advisors LLC now owns 3,379 shares of the company’s stock worth $203,000 after purchasing an additional 297 shares in the last quarter. CWM LLC raised its position in shares of RxSight by 727.5% in the second 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. Finally, Arizona State Retirement System lifted its stake in shares of RxSight by 5.0% during the 2nd quarter. Arizona State Retirement System now owns 7,765 shares of the company’s stock valued at $467,000 after buying an additional 373 shares in the last quarter. 78.78% of the stock is currently owned by 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.