RxSight, Inc. (NASDAQ:RXST) Receives Average Recommendation of “Buy” from Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST) have been assigned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $61.63.

Several equities research analysts have recently weighed in on RXST shares. Oppenheimer decreased their price objective on RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company lowered their price objective 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. Jefferies Financial Group assumed coverage on shares of RxSight in a report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price for the company. BTIG Research increased their target price on shares of RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $66.00 price target on shares of RxSight in a research report on Friday, September 13th.

RxSight Stock Performance

Shares of RXST stock opened at $54.73 on Friday. The stock’s 50-day moving average is $51.46 and its two-hundred day moving average is $53.59. RxSight has a 1 year low of $22.91 and a 1 year high of $66.54. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -52.73 and a beta of 1.19.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The firm had revenue of $34.89 million for the quarter, compared to the consensus estimate of $32.33 million. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The firm’s quarterly revenue was up 67.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.40) EPS. As a group, research analysts predict that RxSight will post -0.81 EPS for the current year.

Insider Buying and Selling

In other RxSight news, insider Ilya Goldshleger sold 3,105 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $51.91, for a total transaction of $161,180.55. Following the transaction, the insider now owns 42,246 shares in the company, valued at approximately $2,192,989.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 43,415 shares of company stock valued at $2,178,847 over the last ninety days. Corporate insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. lifted its stake in shares of RxSight by 1.1% in the first quarter. RA Capital Management L.P. now owns 3,442,825 shares of the company’s stock valued at $177,581,000 after purchasing an additional 38,540 shares during the period. Vanguard Group Inc. boosted 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 acquiring an additional 40,500 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in shares of RxSight by 74.9% in the 2nd 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 during the period. Baillie Gifford & Co. increased its stake in RxSight by 17.0% in the 3rd quarter. Baillie Gifford & Co. now owns 419,004 shares of the company’s stock valued at $20,711,000 after purchasing an additional 60,789 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in RxSight during the second quarter worth $19,512,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

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.