RxSight, Inc. (NASDAQ:RXST) Receives $51.63 Consensus Target Price from Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have earned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $51.63.

A number of equities analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 target price on shares of RxSight in a report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on shares of RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus decreased their price objective on RxSight from $35.00 to $33.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company reduced their target price on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, UBS Group started coverage on shares of RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective for the company.

RxSight Stock Down 3.3 %

RxSight stock opened at $25.22 on Friday. The company has a market capitalization of $1.02 billion, a PE ratio of -30.39 and a beta of 1.22. The firm’s fifty day moving average is $30.76 and its 200 day moving average is $41.40. RxSight has a 12-month low of $24.64 and a 12-month high of $66.54.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share (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 for the quarter, compared to the consensus estimate of $40.23 million. Sell-side analysts expect that RxSight will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling at RxSight

In other news, Director Jesse Anderson Corley bought 1,443 shares of the stock in a transaction on Wednesday, January 15th. The shares were purchased at an average cost of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the purchase, the director now directly owns 1,443 shares in the company, valued at $44,992.74. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tamara Fountain sold 7,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the transaction, the director now owns 24,793 shares of the company’s stock, valued at $637,428.03. The trade was a 22.02 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several large investors have recently modified their holdings of RXST. Nisa Investment Advisors LLC boosted its holdings in RxSight by 854.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after buying an additional 521 shares during the period. Quarry LP boosted its holdings in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after acquiring an additional 288 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of RxSight in the third quarter valued at $34,000. Private Trust Co. NA purchased a new position in shares of RxSight in the fourth quarter valued at $34,000. Finally, State of Wyoming bought a new stake in shares of RxSight during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

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.