RxSight, Inc. (NASDAQ:RXST) Receives $59.00 Consensus Price Target from Analysts

RxSight, Inc. (NASDAQ:RXST) has earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $59.00.

Several analysts have recently weighed in on RXST shares. Stifel Nicolaus downgraded shares of RxSight from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $65.00 to $40.00 in a research report on Friday, December 20th. Jefferies Financial Group began coverage on shares of RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target on the stock. Wells Fargo & Company restated an “equal weight” rating and issued a $42.00 price objective (down previously from $56.00) on shares of RxSight in a research note on Wednesday, December 11th. UBS Group assumed coverage on RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $66.00 price objective on shares of RxSight in a report on Friday, September 13th.

Insiders Place Their Bets

In related news, Director Jesse Anderson Corley acquired 11,111 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price of $45.37 per share, with a total value of $504,106.07. Following the completion of the acquisition, the director now owns 468,571 shares in the company, valued at approximately $21,259,066.27. This represents a 2.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ilya Goldshleger sold 3,105 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total transaction of $161,180.55. Following the completion of the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $2,192,989.86. This trade represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,607 shares of company stock worth $2,874,109. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

A number of institutional investors and hedge funds have recently modified their holdings of RXST. Nisa Investment Advisors LLC boosted its position in RxSight by 854.1% during the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after purchasing an additional 521 shares in the last quarter. Quarry LP grew its stake 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 acquired a new stake in RxSight in the 3rd quarter valued at about $34,000. Quest Partners LLC purchased a new position in RxSight during the 2nd quarter valued at about $41,000. Finally, KBC Group NV raised its position in 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 acquiring an additional 479 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Stock Performance

Shares of NASDAQ RXST opened at $34.47 on Friday. The stock’s 50-day simple moving average is $45.44 and its 200-day simple moving average is $49.81. The firm has a market capitalization of $1.39 billion, a PE ratio of -41.53 and a beta of 1.11. RxSight has a fifty-two week low of $33.03 and a fifty-two week high of $66.54.

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.