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

Shares of RxSight, Inc. (NASDAQ:RXST) have been assigned an average rating of “Buy” from the seven research firms that are covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $60.14.

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

Insider Transactions at RxSight

In related news, insider Ilya Goldshleger sold 9,000 shares of the firm’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 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $58.61, for a total transaction of $586,100.00. Following the completion of the sale, the chief financial officer now owns 13,938 shares in the company, valued at $816,906.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ilya Goldshleger sold 9,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $39.25, for a total value of $353,250.00. Following the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $1,658,155.50. The disclosure for this sale can be found here. 9.36% of the stock is owned by company insiders.

Institutional Trading of RxSight

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in RxSight by 727.5% in the second quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after buying an additional 371 shares during the period. Quest Partners LLC bought a new stake in shares of RxSight during the 2nd quarter valued at $41,000. Larson Financial Group LLC acquired a new position in shares of RxSight in the 1st quarter valued at $51,000. Amalgamated Bank lifted its stake in shares of RxSight by 21.3% in the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after purchasing an additional 207 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of RxSight in the 2nd quarter worth $156,000. 78.78% of the stock is owned by institutional investors.

RxSight Stock Performance

Shares of RXST opened at $53.57 on Friday. The company’s fifty day moving average is $50.80 and its 200-day moving average is $53.97. RxSight has a 12 month low of $20.66 and a 12 month high of $66.54.

RxSight (NASDAQ:RXST) last posted its earnings results on Monday, August 5th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.06. The company had revenue of $34.89 million for the quarter, compared to analyst estimates of $32.33 million. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The business’s revenue was up 67.6% compared to the same quarter last year. During the same period last year, the company earned ($0.40) earnings per share. Analysts expect that RxSight will post -0.81 EPS for the current 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.