RxSight (NASDAQ:RXST) Coverage Initiated by Analysts at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group initiated coverage on shares of RxSight (NASDAQ:RXST) in a report released on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $72.00 price target on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 40.60% from the company’s previous close.

Several other research analysts have also weighed in on RXST. Wells Fargo & Company reduced their target price on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. BTIG Research lifted their target price on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Oppenheimer reduced 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. Stifel Nicolaus reduced their price objective on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $66.00 target price on shares of RxSight in a research report on Friday, September 13th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, RxSight presently has a consensus rating of “Buy” and an average target price of $61.63.

RxSight Stock Down 1.8 %

Shares of RxSight stock opened at $51.21 on Tuesday. RxSight has a 12 month low of $21.14 and a 12 month high of $66.54. The business has a fifty day simple moving average of $51.83 and a 200 day simple moving average of $53.63. The stock has a market cap of $1.89 billion, a PE ratio of -50.21 and a beta of 1.20.

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

Insider Transactions at RxSight

In other news, insider Ilya Goldshleger sold 3,100 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $53.19, for a total value of $164,889.00. Following the completion of the sale, the insider now owns 42,246 shares of the company’s stock, valued at approximately $2,247,064.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 49,310 shares of company stock worth $2,370,917 in the last 90 days. Corporate insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Large investors have recently added to or reduced their stakes in the business. CWM LLC raised its stake 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 period. Nisa Investment Advisors LLC increased its position in RxSight by 854.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after buying an additional 521 shares during the period. Quest Partners LLC bought a new position in RxSight during the 2nd quarter worth $41,000. Larson Financial Group LLC bought a new position in RxSight during the 1st quarter worth $51,000. Finally, Amalgamated Bank raised its stake in RxSight by 21.3% in the second quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after purchasing an additional 207 shares in the last quarter. 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.