RxSight, Inc. (NASDAQ:RXST) Receives $60.63 Consensus Price Target from Analysts

RxSight, Inc. (NASDAQ:RXST) has earned a consensus rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $60.63.

RXST has been the topic of several recent research reports. Stifel Nicolaus upped their target price on shares of RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. BTIG Research lifted their price target on RxSight from $61.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Wells Fargo & Company increased their price objective on RxSight from $61.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Oppenheimer boosted their target price on RxSight from $61.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Finally, Needham & Company LLC increased their price target on shares of RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th.

Insider Activity at RxSight

In related news, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $52.69, for a total value of $526,900.00. Following the completion of the sale, the chief financial officer now owns 13,938 shares in the company, valued at approximately $734,393.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $52.69, for a total transaction of $526,900.00. Following the completion of the transaction, the chief financial officer now owns 13,938 shares in the company, valued at approximately $734,393.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Julie Andrews sold 15,625 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $58.00, for a total transaction of $906,250.00. Following the transaction, the director now owns 30,287 shares of the company’s stock, valued at approximately $1,756,646. The disclosure for this sale can be found here. Insiders sold a total of 75,625 shares of company stock worth $4,425,250 in the last 90 days. 9.36% of the stock is owned by insiders.

Hedge Funds Weigh In On RxSight

A number of large investors have recently bought and sold shares of the company. RA Capital Management L.P. raised its position in RxSight by 1.1% during the 1st quarter. RA Capital Management L.P. now owns 3,442,825 shares of the company’s stock worth $177,581,000 after buying an additional 38,540 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of RxSight by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company’s stock worth $78,634,000 after purchasing an additional 40,500 shares during the period. Parkman Healthcare Partners LLC grew its stake in shares of RxSight by 34.5% during the 4th quarter. Parkman Healthcare Partners LLC now owns 513,032 shares of the company’s stock worth $20,685,000 after purchasing an additional 131,701 shares during the period. Victory Capital Management Inc. grew its stake in shares of RxSight by 108.6% during the 4th quarter. Victory Capital Management Inc. now owns 256,684 shares of the company’s stock worth $10,349,000 after purchasing an additional 133,642 shares during the period. Finally, Great Lakes Advisors LLC acquired a new position in shares of RxSight during the 4th quarter worth $8,226,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Stock Up 0.4 %

Shares of RXST opened at $57.04 on Friday. RxSight has a fifty-two week low of $20.66 and a fifty-two week high of $66.54. The firm’s 50 day moving average price is $58.55 and its 200 day moving average price is $52.22. The company has a market cap of $2.11 billion, a P/E ratio of -45.27 and a beta of 1.20.

RxSight (NASDAQ:RXST) last announced its earnings results on Monday, May 6th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.08). RxSight had a negative return on equity of 27.68% and a negative net margin of 44.01%. The business had revenue of $29.51 million for the quarter, compared to analysts’ expectations of $27.56 million. During the same period in the previous year, the company earned ($0.42) earnings per share. RxSight’s quarterly revenue was up 68.7% on a year-over-year basis. Research analysts forecast that RxSight will post -0.77 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.