Needham & Company LLC Boosts RxSight (NASDAQ:RXST) Price Target to $66.00

RxSight (NASDAQ:RXST) had its target price boosted by Needham & Company LLC from $54.00 to $66.00 in a research report released on Tuesday morning, Marketbeat Ratings reports. Needham & Company LLC currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. Stifel Nicolaus reduced their price objective on RxSight from $70.00 to $65.00 and set a buy rating on the stock in a research note on Tuesday, August 6th. Wells Fargo & Company reduced 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. Oppenheimer lowered their price objective on shares of RxSight from $72.00 to $65.00 and set an outperform rating for the company in a research report on Tuesday, August 6th. Finally, BTIG Research lifted their price objective 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. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $60.14.

RxSight Stock Performance

RXST opened at $54.33 on Tuesday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -43.12 and a beta of 1.19. The company has a fifty day moving average of $51.54 and a 200 day moving average of $53.72. RxSight has a fifty-two week low of $20.66 and a fifty-two week high of $66.54.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.16) 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 the consensus estimate of $32.33 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. The business’s revenue was up 67.6% on a year-over-year basis. On average, equities research analysts forecast that RxSight will post -0.77 earnings per share for the current year.

Insider Transactions at RxSight

In other RxSight news, insider Ilya Goldshleger sold 9,000 shares of RxSight stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $39.25, for a total value of $353,250.00. Following the transaction, the insider now owns 42,246 shares in the company, valued at $1,658,155.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other RxSight news, insider Ilya Goldshleger sold 9,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $39.25, for a total transaction of $353,250.00. Following the completion of the sale, the insider now directly owns 42,246 shares of the company’s stock, valued at $1,658,155.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Julie Andrews sold 15,625 shares of RxSight stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $58.00, for a total transaction of $906,250.00. Following the completion of the transaction, the director now directly owns 30,287 shares in the company, valued at approximately $1,756,646. The disclosure for this sale can be found here. In the last three months, insiders sold 34,625 shares of company stock valued at $1,845,600. Corporate insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

A number of large investors have recently made changes to their positions in the business. New York State Common Retirement Fund increased its holdings in shares of RxSight by 25.8% during the fourth quarter. New York State Common Retirement Fund now owns 135,438 shares of the company’s stock valued at $5,461,000 after acquiring an additional 27,758 shares in the last quarter. Precision Wealth Strategies LLC acquired a new position in RxSight during the 4th quarter valued at approximately $287,000. Thompson Davis & CO. Inc. purchased a new position in shares of RxSight in the fourth quarter worth $212,000. Victory Capital Management Inc. lifted its stake in shares of RxSight by 108.6% during the fourth quarter. Victory Capital Management Inc. now owns 256,684 shares of the company’s stock worth $10,349,000 after buying an additional 133,642 shares during the period. Finally, Swiss National Bank lifted its position in RxSight by 2.9% during the 4th quarter. Swiss National Bank now owns 45,700 shares of the company’s stock worth $1,843,000 after acquiring an additional 1,300 shares during the period. 78.78% of the stock is 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.