RxSight (NASDAQ:RXST) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of RxSight (NASDAQ:RXST) in a report released on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $72.00 target price on the stock.

RXST has been the topic of a number of other research reports. BTIG Research boosted their target price on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Needham & Company LLC restated a “buy” rating and issued a $66.00 target price on shares of RxSight in a research note on Friday, September 13th. Wells Fargo & Company cut their target price on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Stifel Nicolaus cut their target price on RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Oppenheimer dropped their price objective on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, RxSight has a consensus rating of “Buy” and an average target price of $61.63.

RxSight Stock Performance

Shares of RXST opened at $51.10 on Tuesday. The stock has a 50 day moving average price of $51.65 and a two-hundred day moving average price of $53.60. The firm has a market capitalization of $1.89 billion, a P/E ratio of -50.10 and a beta of 1.20. RxSight has a 52 week low of $22.60 and a 52 week high of $66.54.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The firm had revenue of $34.89 million during the quarter, compared to analyst estimates of $32.33 million. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The company’s revenue for the quarter was up 67.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.40) EPS. On average, equities analysts forecast that RxSight will post -0.81 earnings per share for the current year.

Insider Buying and Selling at RxSight

In other RxSight news, insider Ilya Goldshleger sold 9,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $39.25, for a total transaction of $353,250.00. Following the sale, the insider now owns 42,246 shares of the company’s stock, valued at $1,658,155.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 52,415 shares of company stock valued at $2,532,097 in the last 90 days. 9.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RxSight

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank raised its holdings in RxSight by 21.3% during the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after acquiring an additional 207 shares during the period. Principal Financial Group Inc. increased its holdings in shares of RxSight by 0.7% in the third quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock worth $1,782,000 after purchasing an additional 240 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of RxSight by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 7,861 shares of the company’s stock worth $473,000 after purchasing an additional 242 shares during the period. RiverPark Advisors LLC increased its holdings in shares of RxSight by 9.6% in the second quarter. RiverPark Advisors LLC now owns 3,379 shares of the company’s stock worth $203,000 after purchasing an additional 297 shares during the period. Finally, CWM LLC increased its holdings in shares of RxSight by 727.5% in the second quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after purchasing an additional 371 shares during the period. 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.