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

Shares of RxSight, Inc. (NASDAQ:RXST) have earned an average rating of “Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $61.63.

Several analysts have issued reports on RXST shares. Jefferies Financial Group started coverage on shares of RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price on the stock. Stifel Nicolaus dropped their price target on RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Oppenheimer reduced their price objective on RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company dropped their target price on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $66.00 price target on shares of RxSight in a report on Friday, September 13th.

Insiders Place Their Bets

In other news, Director Jesse Anderson Corley bought 11,111 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the purchase, the director now owns 468,571 shares of the company’s stock, valued at $21,259,066.27. This represents a 2.43 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $45.00, for a total transaction of $139,500.00. Following the completion of the transaction, the insider now owns 42,246 shares in the company, valued at $1,901,070. This trade represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,702 shares of company stock valued at $3,059,197 over the last ninety days. Corporate insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew 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. Price T Rowe Associates Inc. MD grew its position in RxSight by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,908 shares of the company’s stock worth $3,143,000 after purchasing an additional 994 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of RxSight by 6.8% during the 1st quarter. California State Teachers Retirement System now owns 27,052 shares of the company’s stock worth $1,395,000 after purchasing an additional 1,733 shares during the period. RA Capital Management L.P. raised its position in shares of RxSight by 1.1% during 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 buying an additional 38,540 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of RxSight by 727.5% in the second quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after buying an additional 371 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Price Performance

RXST stock opened at $46.06 on Wednesday. The company’s 50 day simple moving average is $49.20 and its 200-day simple moving average is $52.57. RxSight has a 52-week low of $28.88 and a 52-week high of $66.54. The firm has a market capitalization of $1.86 billion, a P/E ratio of -55.49 and a beta of 1.19.

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.