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

Shares of RxSight, Inc. (NASDAQ:RXST) have been assigned an average rating of “Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $49.63.

Several research firms have recently weighed in on RXST. Needham & Company LLC raised their price target on shares of RxSight from $53.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lifted their price objective on shares of RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Oppenheimer lifted their price objective on shares of RxSight from $54.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Wells Fargo & Company upgraded shares of RxSight from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $31.00 to $42.00 in a report on Wednesday, December 13th. Finally, Morgan Stanley started coverage on shares of RxSight in a research report on Monday, December 4th. They set an “overweight” rating and a $36.00 price objective for the company.

RxSight Trading Up 1.8 %

NASDAQ RXST opened at $51.58 on Friday. The stock has a market cap of $1.91 billion, a P/E ratio of -36.07 and a beta of 1.26. RxSight has a 12-month low of $16.15 and a 12-month high of $58.21. The company has a fifty day simple moving average of $50.72 and a two-hundred day simple moving average of $38.03.

RxSight (NASDAQ:RXST) last announced its earnings results on Wednesday, February 28th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.10. The business had revenue of $28.58 million for the quarter, compared to analyst estimates of $28.60 million. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. As a group, sell-side analysts forecast that RxSight will post -0.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ronald M. Md Kurtz sold 62,500 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $44.25, for a total transaction of $2,765,625.00. Following the transaction, the chief executive officer now directly owns 804,610 shares of the company’s stock, valued at approximately $35,603,992.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Shelley B. Thunen sold 10,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $56.37, for a total value of $563,700.00. Following the sale, the chief financial officer now directly owns 13,691 shares of the company’s stock, valued at approximately $771,761.67. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ronald M. Md Kurtz sold 62,500 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $44.25, for a total transaction of $2,765,625.00. Following the sale, the chief executive officer now directly owns 804,610 shares in the company, valued at $35,603,992.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 239,290 shares of company stock worth $11,132,047. 21.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Artisan Partners Limited Partnership raised its holdings in RxSight by 17.3% in the third quarter. Artisan Partners Limited Partnership now owns 2,437,765 shares of the company’s stock valued at $67,989,000 after buying an additional 359,295 shares during the period. BlackRock Inc. grew its position in RxSight by 30.6% in the second quarter. BlackRock Inc. now owns 1,629,928 shares of the company’s stock valued at $46,942,000 after acquiring an additional 382,119 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of RxSight by 13.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,628,320 shares of the company’s stock worth $45,414,000 after buying an additional 197,099 shares in the last quarter. Vanguard Group Inc. grew its position in shares of RxSight by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 1,484,010 shares of the company’s stock worth $59,835,000 after buying an additional 50,057 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in RxSight by 61.2% in the fourth quarter. Nuveen Asset Management LLC now owns 695,705 shares of the company’s stock worth $28,051,000 after purchasing an additional 264,228 shares during the period. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

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.