RxSight (NASDAQ:RXST) Shares Up 1.7% – Still a Buy?

RxSight, Inc. (NASDAQ:RXST) shares rose 1.7% during trading on Friday . The stock traded as high as $45.81 and last traded at $45.81. Approximately 50,411 shares changed hands during trading, a decline of 90% from the average daily volume of 486,430 shares. The stock had previously closed at $45.05.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RXST shares. Jefferies Financial Group began coverage on RxSight in a research report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price target for the company. Stifel Nicolaus reduced their target price on shares of RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price target on shares of RxSight in a report on Friday, September 13th. Oppenheimer decreased their price target on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company decreased their price objective on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $61.63.

RxSight Stock Up 0.2 %

The firm has a market cap of $1.82 billion, a P/E ratio of -55.19 and a beta of 1.19. The firm has a fifty day moving average of $49.59 and a 200-day moving average of $52.92.

Insider Activity at RxSight

In other RxSight news, insider Ilya Goldshleger sold 3,100 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $52.67, for a total transaction of $163,277.00. Following the transaction, the insider now owns 42,246 shares of the company’s stock, valued at $2,225,096.82. The trade was a 6.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jesse Anderson Corley bought 11,111 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was purchased at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the acquisition, the director now owns 468,571 shares in the company, valued at $21,259,066.27. This trade represents a 2.43 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 52,720 shares of company stock worth $2,603,950 over the last ninety days. Company insiders own 9.36% of the company’s stock.

Institutional Trading of RxSight

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC lifted its position in shares of RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after acquiring an additional 371 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after acquiring an additional 521 shares during the period. Quarry LP boosted its stake in shares of RxSight by 82.3% in the 3rd 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. Point72 Hong Kong Ltd bought a new position in shares of RxSight in the 3rd quarter worth about $34,000. Finally, Quest Partners LLC acquired a new position in RxSight in the second quarter valued at approximately $41,000. 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.