RxSight (NASDAQ:RXST) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of RxSight (NASDAQ:RXST) in a report released on Wednesday morning,Benzinga reports. They currently have a $43.00 target price on the stock.

RXST has been the subject of a number of other research reports. UBS Group initiated coverage on RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 target price for the company. Wells Fargo & Company dropped their price objective on shares of RxSight from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group began coverage on shares of RxSight in a report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price objective for the company. Finally, Stifel Nicolaus lowered their target price on shares of RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, RxSight presently has an average rating of “Moderate Buy” and a consensus target price of $51.63.

RxSight Stock Performance

NASDAQ RXST opened at $28.97 on Wednesday. The stock has a market cap of $1.17 billion, a PE ratio of -34.90 and a beta of 1.19. The firm has a 50-day moving average of $32.61 and a 200-day moving average of $43.37. RxSight has a 52-week low of $26.29 and a 52-week high of $66.54.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.25). The company had revenue of $40.21 million for the quarter, compared to analyst estimates of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. As a group, analysts predict that RxSight will post -0.7 EPS for the current fiscal year.

Insider Activity

In other RxSight news, insider Ilya Goldshleger sold 3,105 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $46.08, for a total value of $143,078.40. Following the sale, the insider now owns 42,246 shares of the company’s stock, valued at approximately $1,946,695.68. This trade represents a 6.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Shweta Maniar sold 3,519 shares of RxSight stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the transaction, the director now owns 7,383 shares in the company, valued at approximately $227,913.21. The trade was a 32.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.36% of the company’s stock.

Institutional Trading of RxSight

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in RxSight by 17.7% during the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after acquiring an additional 122,775 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of RxSight by 21.0% during the 3rd quarter. Victory Capital Management Inc. now owns 259,864 shares of the company’s stock valued at $12,845,000 after purchasing an additional 45,161 shares during the last quarter. Baillie Gifford & Co. increased its position in RxSight by 17.0% during the 3rd quarter. Baillie Gifford & Co. now owns 419,004 shares of the company’s stock worth $20,711,000 after purchasing an additional 60,789 shares in the last quarter. Barclays PLC lifted its stake in RxSight by 389.8% in the 3rd quarter. Barclays PLC now owns 58,786 shares of the company’s stock valued at $2,906,000 after purchasing an additional 46,783 shares during the last quarter. Finally, State Street Corp boosted its position in RxSight by 8.3% in the third quarter. State Street Corp now owns 817,671 shares of the company’s stock valued at $40,417,000 after buying an additional 62,349 shares in the last quarter. 78.78% of the stock is currently owned by 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.