RxSight, Inc. (NASDAQ:RXST) Receives Average Rating of “Buy” from Analysts

RxSight, Inc. (NASDAQ:RXST) has earned an average recommendation of “Buy” from the eight research firms that are covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $61.63.

Several research firms recently commented on RXST. Needham & Company LLC reiterated a “buy” rating and set a $66.00 target price on shares of RxSight in a research note on Friday, September 13th. Wells Fargo & Company cut their price objective on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Jefferies Financial Group started coverage on RxSight in a research report on Tuesday. They set a “buy” rating and a $72.00 target price on the stock. Stifel Nicolaus cut their price target on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Oppenheimer decreased their price objective on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th.

Insiders Place Their Bets

In related news, insider Ilya Goldshleger sold 9,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $39.25, for a total value of $353,250.00. Following the sale, the insider now owns 42,246 shares of the company’s stock, valued at $1,658,155.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 52,415 shares of company stock worth $2,532,097 over the last quarter. Company insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several institutional investors have recently added to or reduced their stakes in RXST. GSA Capital Partners LLP bought a new stake in RxSight during the first quarter worth about $1,929,000. Principal Financial Group Inc. boosted its holdings in shares of RxSight by 298.5% in the 1st quarter. Principal Financial Group Inc. now owns 34,928 shares of the company’s stock worth $1,802,000 after acquiring an additional 26,164 shares in the last quarter. Baillie Gifford & Co. acquired a new position in shares of RxSight in the 1st quarter worth approximately $3,429,000. M&G Plc bought a new stake in RxSight during the 1st quarter worth approximately $7,354,000. Finally, Inspire Investing LLC acquired a new stake in RxSight during the 1st quarter valued at $917,000. 78.78% of the stock is owned by institutional investors.

RxSight Stock Performance

RxSight stock opened at $51.10 on Friday. RxSight has a 52 week low of $22.60 and a 52 week high of $66.54. The firm has a market capitalization of $1.89 billion, a PE ratio of -50.10 and a beta of 1.20. The business’s 50-day simple moving average is $51.65 and its 200-day simple moving average is $53.60.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.16) EPS 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 company had revenue of $34.89 million for the quarter, compared to the consensus estimate of $32.33 million. During the same period in the previous year, the business posted ($0.40) EPS. The company’s revenue for the quarter was up 67.6% on a year-over-year basis. Research analysts forecast that RxSight will post -0.81 earnings per share for the current year.

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.