RxSight, Inc. (NASDAQ:RXST) Receives Average Recommendation of “Buy” from Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST) have been assigned an average rating of “Buy” from the seven ratings firms that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is $60.14.

RXST has been the subject of a number of research analyst reports. 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 report on Monday, July 15th. Wells Fargo & Company cut their price objective on RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Stifel Nicolaus dropped their target price on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of RxSight in a research note on Friday, September 13th. Finally, Oppenheimer decreased their price target on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th.

Insider Buying and Selling at RxSight

In other news, insider Ilya Goldshleger sold 3,100 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $53.19, for a total value of $164,889.00. Following the transaction, the insider now owns 42,246 shares in the company, valued at approximately $2,247,064.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 27,605 shares of company stock worth $1,284,860. 9.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RxSight

Hedge funds have recently modified their holdings of the company. Seven Eight Capital LP purchased a new position in RxSight during the 4th quarter valued at about $1,085,000. Lighthouse Investment Partners LLC bought a new position in shares of RxSight during the fourth quarter valued at approximately $904,000. Parkman Healthcare Partners LLC lifted its stake in RxSight by 34.5% in the fourth quarter. Parkman Healthcare Partners LLC now owns 513,032 shares of the company’s stock worth $20,685,000 after acquiring an additional 131,701 shares during the period. Counterpoint Mutual Funds LLC boosted its holdings in RxSight by 102.9% in the first quarter. Counterpoint Mutual Funds LLC now owns 13,573 shares of the company’s stock valued at $700,000 after acquiring an additional 6,883 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in RxSight by 298.5% during the 1st quarter. Principal Financial Group Inc. now owns 34,928 shares of the company’s stock valued at $1,802,000 after purchasing an additional 26,164 shares during the period. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Stock Up 0.1 %

NASDAQ:RXST opened at $50.26 on Tuesday. The stock has a market cap of $1.86 billion, a P/E ratio of -39.89 and a beta of 1.20. The business’s 50-day moving average price is $51.99 and its two-hundred day moving average price is $53.88. RxSight has a twelve month low of $20.66 and a twelve month high of $66.54.

RxSight (NASDAQ:RXST) last announced its earnings results on Monday, August 5th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $32.33 million. During the same period last year, the firm posted ($0.40) earnings per share. RxSight’s quarterly revenue was up 67.6% on a year-over-year basis. On average, equities research analysts expect that RxSight will post -0.81 EPS for the current fiscal year.

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.