RxSight (NASDAQ:RXST) Price Target Raised to $72.00 at Oppenheimer

RxSight (NASDAQ:RXST) had its price target lifted by Oppenheimer from $61.00 to $72.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also issued reports on RXST. BTIG Research raised their price target on RxSight from $61.00 to $72.00 and gave the stock a buy rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on RxSight from $40.00 to $62.00 and gave the company an overweight rating in a research report on Thursday, February 29th. Stifel Nicolaus lifted their price objective on RxSight from $64.00 to $68.00 and gave the company a buy rating in a research note on Monday. Finally, Needham & Company LLC raised their price target on shares of RxSight from $64.00 to $75.00 and gave the company a buy rating in a report on Tuesday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $60.63.

RxSight Trading Down 1.0 %

Shares of RxSight stock opened at $62.19 on Tuesday. The company has a 50-day moving average of $52.86 and a two-hundred day moving average of $43.32. The stock has a market cap of $2.30 billion, a PE ratio of -43.49 and a beta of 1.21. RxSight has a 12-month low of $18.35 and a 12-month high of $66.54.

RxSight (NASDAQ:RXST) last announced its earnings results on Monday, May 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. The business had revenue of $29.51 million for the quarter, compared to analyst estimates of $27.56 million. During the same quarter in the previous year, the firm posted ($0.42) EPS. The business’s revenue was up 68.7% on a year-over-year basis. On average, sell-side analysts forecast that RxSight will post -0.94 EPS for the current fiscal year.

Insider Transactions at RxSight

In other news, CEO Ronald M. Md Kurtz sold 40,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the completion of the sale, the chief executive officer now directly owns 764,610 shares of the company’s stock, valued at approximately $45,991,291.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other RxSight news, Director Bakker Juliet Tammenoms acquired 4,000 shares of RxSight stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $50.38 per share, with a total value of $201,520.00. Following the purchase, the director now owns 25,840 shares in the company, valued at $1,301,819.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of RxSight stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $60.15, for a total value of $2,406,000.00. Following the transaction, the chief executive officer now directly owns 764,610 shares in the company, valued at approximately $45,991,291.50. The disclosure for this sale can be found here. Insiders have sold 90,365 shares of company stock valued at $5,020,520 in the last quarter. Insiders own 21.13% of the company’s stock.

Hedge Funds Weigh In On RxSight

Hedge funds have recently modified their holdings of the stock. Artisan Partners Limited Partnership lifted its stake 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 acquiring an additional 359,295 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of RxSight by 13.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,628,320 shares of the company’s stock valued at $45,414,000 after purchasing an additional 197,099 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of RxSight by 21.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,433,953 shares of the company’s stock valued at $39,993,000 after purchasing an additional 255,150 shares during the last quarter. Parkman Healthcare Partners LLC boosted its holdings 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 purchasing an additional 131,701 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in RxSight by 108.6% during the fourth quarter. Victory Capital Management Inc. now owns 256,684 shares of the company’s stock worth $10,349,000 after buying an additional 133,642 shares during the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

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.