RxSight, Inc. (NASDAQ:RXST) Given Average Rating of “Buy” by Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST) have been assigned a consensus rating of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $58.43.

Several equities research analysts recently issued reports on RXST shares. BTIG Research upped their price target on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Wells Fargo & Company dropped their price target on RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC dropped their target price on RxSight from $75.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Oppenheimer decreased their price target on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Finally, Stifel Nicolaus reduced their target price on RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th.

Insiders Place Their Bets

In other news, insider Ilya Goldshleger sold 9,000 shares of RxSight 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 transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $1,658,155.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other RxSight news, insider Ilya Goldshleger sold 9,000 shares of RxSight stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $39.25, for a total transaction of $353,250.00. Following the completion of the sale, the insider now owns 42,246 shares of the company’s stock, valued at approximately $1,658,155.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Julie Andrews sold 15,625 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $58.00, for a total value of $906,250.00. Following the completion of the transaction, the director now directly 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 have sold 34,625 shares of company stock worth $1,845,600 in the last ninety days. 9.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On RxSight

Several large investors have recently bought and sold shares of the company. Amalgamated Bank lifted its holdings 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 acquiring an additional 207 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of RxSight by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 7,861 shares of the company’s stock worth $473,000 after purchasing an additional 242 shares during the last quarter. RiverPark Advisors LLC grew its holdings in shares of RxSight by 9.6% during the second quarter. RiverPark Advisors LLC now owns 3,379 shares of the company’s stock worth $203,000 after purchasing an additional 297 shares during the last quarter. CWM LLC boosted its stake in shares of RxSight by 727.5% during the second quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after buying an additional 371 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of RxSight by 5.0% during the second quarter. Arizona State Retirement System now owns 7,765 shares of the company’s stock worth $467,000 after buying an additional 373 shares during the period. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

RxSight Trading Up 4.0 %

NASDAQ:RXST opened at $52.79 on Monday. The firm has a fifty day simple moving average of $51.92 and a 200 day simple moving average of $53.65. RxSight has a 1-year low of $20.66 and a 1-year high of $66.54. The stock has a market capitalization of $1.95 billion, a PE ratio of -41.90 and a beta of 1.19.

RxSight (NASDAQ:RXST) last posted its earnings results on Monday, August 5th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $32.33 million. During the same quarter last year, the firm earned ($0.40) earnings per share. The company’s revenue was up 67.6% on a year-over-year basis. On average, equities analysts predict that RxSight will post -0.77 earnings per share for the current fiscal 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.