RxSight (NASDAQ:RXST) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of RxSight (NASDAQ:RXST) in a report published on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $72.00 price target on the stock.

Other analysts also recently issued research reports about the company. BTIG Research boosted their price objective on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Oppenheimer cut their price target on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price objective on shares of RxSight in a research note on Friday, September 13th. Stifel Nicolaus cut their target price on shares of RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company decreased their price target on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $61.63.

RxSight Stock Up 3.8 %

Shares of RXST opened at $52.16 on Tuesday. The firm has a market capitalization of $1.93 billion, a PE ratio of -51.14 and a beta of 1.20. The firm has a 50-day moving average price of $51.88 and a 200 day moving average price of $53.65. RxSight has a 52-week low of $20.66 and a 52-week high of $66.54.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.06. RxSight had a negative net margin of 31.92% and a negative return on equity of 19.33%. The business had revenue of $34.89 million during the quarter, compared to analysts’ expectations of $32.33 million. During the same period last year, the firm posted ($0.40) earnings per share. The business’s revenue was up 67.6% on a year-over-year basis. On average, equities analysts expect that RxSight will post -0.81 EPS for the current year.

Insiders Place Their Bets

In other news, insider Ilya Goldshleger sold 3,100 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $53.19, for a total value of $164,889.00. Following the completion of the sale, the insider now owns 42,246 shares of the company’s stock, valued at $2,247,064.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have sold 49,310 shares of company stock worth $2,370,917. Corporate insiders own 9.36% of the company’s stock.

Institutional Trading of RxSight

Several institutional investors have recently made changes to their positions in RXST. RA Capital Management L.P. increased its stake in RxSight by 1.1% in the 1st quarter. RA Capital Management L.P. now owns 3,442,825 shares of the company’s stock valued at $177,581,000 after buying an additional 38,540 shares during the period. Vanguard Group Inc. increased its stake in shares of RxSight by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company’s stock worth $78,634,000 after acquiring an additional 40,500 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in shares of RxSight by 74.9% during the second quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock worth $42,490,000 after acquiring an additional 302,367 shares in the last quarter. Baillie Gifford & Co. boosted its position in RxSight by 438.8% during the second quarter. Baillie Gifford & Co. now owns 358,215 shares of the company’s stock valued at $21,554,000 after purchasing an additional 291,733 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in RxSight in the second quarter valued at about $19,512,000. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.