RxSight, Inc. (NASDAQ:RXST) Given Average Recommendation of “Hold” by Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have received a consensus recommendation of “Hold” from the nine research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $43.78.

RXST has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price target on shares of RxSight in a research report on Thursday. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $17.00 target price (down previously from $40.00) on shares of RxSight in a research note on Friday. Stifel Nicolaus decreased their price target on shares of RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, March 19th. Wells Fargo & Company lowered their price objective on RxSight from $35.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Bank of America reissued an “underperform” rating and issued a $22.00 target price (down from $36.00) on shares of RxSight in a research note on Thursday.

RxSight Stock Up 0.3 %

Shares of NASDAQ RXST opened at $16.26 on Tuesday. The stock’s 50 day moving average price is $28.12 and its 200-day moving average price is $37.90. RxSight has a twelve month low of $14.37 and a twelve month high of $66.54. The company has a market capitalization of $658.38 million, a PE ratio of -19.59 and a beta of 1.26.

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

Insider Buying and Selling at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the transaction, the director now directly owns 24,793 shares of the company’s stock, valued at $637,428.03. The trade was a 22.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shweta Maniar sold 3,519 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the transaction, the director now directly owns 7,383 shares in the company, valued at $227,913.21. The trade was a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP lifted its position in RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Mountain Capital Investment Advisors Inc. grew its stake in RxSight by 3.8% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock worth $302,000 after acquiring an additional 320 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in RxSight by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock worth $1,034,000 after purchasing an additional 399 shares during the period. Wells Fargo & Company MN increased its stake in shares of RxSight by 1.7% during the fourth quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock valued at $914,000 after buying an additional 445 shares during the period. Finally, MCIA Inc raised its holdings in shares of RxSight by 5.7% in the 3rd quarter. MCIA Inc now owns 8,459 shares of the company’s stock valued at $385,000 after purchasing an additional 459 shares in the last quarter. 78.78% of the stock is owned by 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.