RxSight, Inc. (NASDAQ:RXST) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $59.00.

A number of equities research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price target on shares of RxSight in a research note on Friday, September 13th. 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 research report on Friday. Wells Fargo & Company reissued an “equal weight” rating and set a $42.00 target price (down previously from $56.00) on shares of RxSight in a research note on Wednesday, December 11th. Jefferies Financial Group assumed coverage on RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price target for the company. Finally, UBS Group began coverage on shares of RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 price objective on the stock.

RxSight Price Performance

Shares of NASDAQ RXST opened at $33.66 on Friday. The stock has a market cap of $1.36 billion, a PE ratio of -40.55 and a beta of 1.11. RxSight has a 1 year low of $33.03 and a 1 year high of $66.54. The firm has a fifty day moving average price of $45.75 and a 200-day moving average price of $50.09.

Insider Buying and Selling

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 transaction of $173,518.16. Following the sale, the director now owns 10,902 shares in the company, 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 is accessible through this hyperlink. Also, insider Ilya Goldshleger sold 3,105 shares of RxSight stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $49.29, for a total transaction of $153,045.45. Following the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at $2,082,305.34. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,707 shares of company stock worth $3,037,386. Insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in shares of RxSight by 854.1% in the third 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. Quarry LP grew its position in RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in RxSight in the third quarter worth $34,000. Quest Partners LLC purchased a new stake in RxSight in the second quarter worth $41,000. Finally, KBC Group NV lifted its position in shares of RxSight by 63.6% during the third quarter. KBC Group NV now owns 1,232 shares of the company’s stock worth $61,000 after purchasing an additional 479 shares during the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

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.