Analysts Set RxSight, Inc. (NASDAQ:RXST) PT at $51.63

Shares of RxSight, Inc. (NASDAQ:RXST) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $51.63.

Several brokerages have commented on RXST. Wells Fargo & Company cut their price target on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. UBS Group assumed coverage on RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 price objective for the company. Stifel Nicolaus decreased their target price on RxSight from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $43.00 price target on shares of RxSight in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their price objective on RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th.

RxSight Stock Up 2.7 %

RXST opened at $25.44 on Friday. RxSight has a twelve month low of $24.64 and a twelve month high of $66.54. The company’s 50-day moving average price is $31.11 and its two-hundred day moving average price is $41.63. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -30.65 and a beta of 1.22.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The company had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. As a group, sell-side analysts anticipate that RxSight will post -0.7 earnings per share for the current year.

Insider Activity at RxSight

In related news, Director Shweta Maniar sold 3,519 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total transaction of $108,631.53. Following the transaction, the director now owns 7,383 shares of the company’s stock, valued at approximately $227,913.21. This trade represents a 32.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jesse Anderson Corley purchased 1,443 shares of the stock in a transaction on Wednesday, January 15th. The stock was acquired at an average cost of $31.18 per share, with a total value of $44,992.74. Following the completion of the purchase, the director now directly owns 1,443 shares of the company’s stock, valued at $44,992.74. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RxSight

Institutional investors have recently bought and sold shares of the stock. Brown Capital Management LLC bought a new stake in RxSight in the third quarter valued at approximately $26,813,000. Royal Bank of Canada grew its holdings in RxSight by 3,094.6% in the 4th quarter. Royal Bank of Canada now owns 508,491 shares of the company’s stock worth $17,481,000 after acquiring an additional 492,574 shares during the last quarter. DF Dent & Co. Inc. purchased a new position in shares of RxSight in the fourth quarter valued at about $14,524,000. Bank of America Corp DE raised its stake in shares of RxSight by 23.7% during the fourth quarter. Bank of America Corp DE now owns 2,159,923 shares of the company’s stock valued at $74,258,000 after acquiring an additional 413,737 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of RxSight by 610.2% during the third quarter. Point72 Asset Management L.P. now owns 446,976 shares of the company’s stock worth $22,094,000 after purchasing an additional 384,041 shares during the period. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

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.