RxSight (NASDAQ:RXST) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of RxSight (NASDAQ:RXST) in a research note released on Monday morning,Benzinga reports. The firm currently has a $66.00 target price on the stock.

RXST has been the topic of a number of other reports. Stifel Nicolaus cut RxSight from a “buy” rating to a “hold” rating and cut their target price for the stock from $65.00 to $40.00 in a report on Friday, December 20th. UBS Group assumed coverage on RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 target price on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $42.00 target price (down from $56.00) on shares of RxSight in a report on Wednesday, December 11th. Finally, Jefferies Financial Group assumed coverage on RxSight in a report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.13.

RxSight Stock Performance

RxSight stock opened at $30.72 on Monday. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -37.01 and a beta of 1.20. RxSight has a 52-week low of $26.29 and a 52-week high of $66.54. The stock’s 50 day moving average price is $40.61 and its two-hundred day moving average price is $47.38.

Insider Activity at RxSight

In related news, Director Shweta Maniar sold 3,782 shares of the stock in a transaction on Tuesday, November 26th. The stock was 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 directly owns 10,902 shares of the company’s stock, valued at approximately $500,183.76. This represents a 25.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ilya Goldshleger sold 3,105 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total value of $161,180.55. Following the completion of the sale, the insider now directly owns 42,246 shares of the company’s stock, valued at $2,192,989.86. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,002 shares of company stock valued at $1,959,796. 9.36% of the stock is owned by insiders.

Institutional Investors Weigh In On RxSight

Several large investors have recently made changes to their positions in RXST. Nisa Investment Advisors LLC increased its position in shares of RxSight by 854.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after purchasing an additional 521 shares during the last quarter. Quarry LP increased its position in shares of RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of RxSight during the 3rd quarter valued at $34,000. Quest Partners LLC purchased a new stake in shares of RxSight during the 2nd quarter valued at $41,000. Finally, KBC Group NV increased its position in shares of RxSight by 63.6% during the 3rd quarter. KBC Group NV now owns 1,232 shares of the company’s stock valued at $61,000 after purchasing an additional 479 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.