RxSight, Inc. (NASDAQ:RXST) Receives $60.14 Consensus Price Target from Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have been assigned a consensus rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $60.14.

RXST has been the topic of several research reports. Oppenheimer reduced their price objective on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Wells Fargo & Company cut their price target on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. BTIG Research lifted their price objective on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of RxSight in a research report on Friday, September 13th. Finally, Stifel Nicolaus lowered their price target on shares of RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th.

Insider Activity at RxSight

In related news, insider Ilya Goldshleger sold 9,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 42,246 shares in the company, valued at $1,658,155.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $58.61, for a total value of $586,100.00. Following the completion of the transaction, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at $816,906.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ilya Goldshleger sold 9,000 shares of the 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 completion of the sale, the insider now owns 42,246 shares of the company’s stock, valued at $1,658,155.50. The disclosure for this sale can be found here. 9.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RxSight

Institutional investors and hedge funds have recently modified their holdings of the business. Cim LLC acquired a new stake in shares of RxSight during the second quarter worth $476,000. Truist Financial Corp boosted its holdings in RxSight by 11.1% during the second quarter. Truist Financial Corp now owns 5,827 shares of the company’s stock worth $351,000 after purchasing an additional 583 shares during the last quarter. Point72 Asset Management L.P. grew its position in RxSight by 279.1% in the second quarter. Point72 Asset Management L.P. now owns 62,935 shares of the company’s stock valued at $3,787,000 after purchasing an additional 46,336 shares in the last quarter. Doheny Asset Management CA increased its stake in RxSight by 51.7% in the 2nd quarter. Doheny Asset Management CA now owns 14,490 shares of the company’s stock valued at $872,000 after buying an additional 4,940 shares during the last quarter. Finally, Algert Global LLC bought a new stake in RxSight during the 2nd quarter worth about $2,488,000. 78.78% of the stock is currently owned by institutional investors and hedge funds.

RxSight Stock Up 1.1 %

RxSight stock opened at $56.14 on Friday. The stock has a 50-day simple moving average of $50.73 and a 200 day simple moving average of $53.97. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -44.56 and a beta of 1.22. RxSight has a 12-month low of $20.66 and a 12-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, topping 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 company had revenue of $34.89 million during the quarter, compared to the consensus estimate of $32.33 million. During the same period in the previous year, the firm posted ($0.40) earnings per share. The company’s revenue was up 67.6% on a year-over-year basis. As a group, sell-side analysts anticipate that RxSight will post -0.81 EPS for the current year.

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.