Brokerages Set RxSight, Inc. (NASDAQ:RXST) Target Price at $60.14

RxSight, Inc. (NASDAQ:RXST) has been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have covered the stock in the last year is $60.14.

A number of research analysts recently weighed in on RXST shares. BTIG Research increased their price objective on shares of RxSight from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Stifel Nicolaus cut their price objective on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company dropped their target price on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Oppenheimer cut their price target on RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of RxSight in a research note on Friday, September 13th.

RxSight Stock Up 1.1 %

Shares of RXST opened at $49.90 on Tuesday. RxSight has a twelve month low of $20.66 and a twelve month high of $66.54. The company has a market capitalization of $1.85 billion, a P/E ratio of -39.60 and a beta of 1.20. The firm has a 50 day moving average of $51.63 and a 200 day moving average of $53.83.

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

Insider Buying and Selling at RxSight

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 transaction of $353,250.00. Following the sale, the insider now directly owns 42,246 shares in the company, valued at $1,658,155.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 27,605 shares of company stock valued at $1,284,860 over the last 90 days. 9.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RxSight

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC increased its holdings in RxSight by 727.5% in the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after acquiring an additional 371 shares during the last quarter. Quest Partners LLC purchased a new position in RxSight during the 2nd quarter valued at approximately $41,000. Larson Financial Group LLC purchased a new position in shares of RxSight in the 1st quarter worth $51,000. Amalgamated Bank grew its stake in shares of RxSight by 21.3% in the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after buying an additional 207 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of RxSight in the 2nd quarter worth about $156,000. Institutional investors own 78.78% of the company’s stock.

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.