RxSight, Inc. (NASDAQ:RXST) Receives $61.63 Consensus PT from Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have been assigned an average recommendation of “Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $61.63.

A number of equities research analysts have recently issued reports on the stock. Oppenheimer dropped their target price on shares of 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 dropped their price objective on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Stifel Nicolaus reduced their target price on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and issued a $66.00 price target on shares of RxSight in a research note on Friday, September 13th. Finally, Jefferies Financial Group assumed coverage on RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target for the company.

Insider Activity at RxSight

In other news, insider Ilya Goldshleger sold 3,100 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $53.19, for a total transaction of $164,889.00. Following the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $2,247,064.74. This trade represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shweta Maniar sold 3,782 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value of $173,518.16. Following the completion of the sale, the director now owns 10,902 shares of the company’s stock, valued at approximately $500,183.76. This trade represents a 25.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,702 shares of company stock worth $3,059,197 in the last ninety days. 9.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On RxSight

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RXST. Brown Capital Management LLC acquired a new position in shares of RxSight in the 3rd quarter valued at approximately $26,813,000. Point72 Asset Management L.P. raised its position in RxSight by 610.2% during the third quarter. Point72 Asset Management L.P. now owns 446,976 shares of the company’s stock valued at $22,094,000 after purchasing an additional 384,041 shares in the last quarter. Marshall Wace LLP bought a new stake in RxSight during the second quarter worth $19,512,000. Driehaus Capital Management LLC boosted its holdings in shares of RxSight by 74.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock valued at $42,490,000 after purchasing an additional 302,367 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in shares of RxSight by 438.8% in the 2nd quarter. Baillie Gifford & Co. now owns 358,215 shares of the company’s stock valued at $21,554,000 after purchasing an additional 291,733 shares during the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

RxSight Price Performance

Shares of RXST stock opened at $46.88 on Wednesday. The company has a fifty day moving average price of $48.70 and a two-hundred day moving average price of $52.39. RxSight has a one year low of $28.88 and a one year high of $66.54. The stock has a market cap of $1.89 billion, a P/E ratio of -56.48 and a beta of 1.19.

RxSight Company Profile

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.