Brokerages Set RxSight, Inc. (NASDAQ:RXST) Price Target at $59.00

RxSight, Inc. (NASDAQ:RXST) has been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $59.00.

RXST has been the subject of a number of research reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $42.00 price target (down from $56.00) on shares of RxSight in a research note on Wednesday, December 11th. Jefferies Financial Group started coverage on RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price for the company. Stifel Nicolaus cut RxSight from a “buy” rating to a “hold” rating and reduced their price target for the stock from $65.00 to $40.00 in a research note on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of RxSight in a research report on Friday, September 13th. Finally, UBS Group initiated coverage on shares of RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 target price on the stock.

RxSight Stock Up 1.7 %

Shares of RXST stock opened at $35.05 on Friday. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -42.23 and a beta of 1.11. The stock has a fifty day moving average of $44.51 and a 200 day moving average of $49.45. RxSight has a 52 week low of $33.03 and a 52 week high of $66.54.

Insider Transactions at RxSight

In other RxSight news, insider Ilya Goldshleger sold 1,330 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $46.13, for a total transaction of $61,352.90. Following the completion of the sale, the insider now owns 42,246 shares of the company’s stock, valued at approximately $1,948,807.98. The trade was a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jesse Anderson Corley acquired 11,111 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was bought at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the purchase, the director now directly owns 468,571 shares of the company’s stock, valued at approximately $21,259,066.27. This trade represents a 2.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 56,502 shares of company stock worth $2,721,063 in the last quarter. Company insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RXST. Nisa Investment Advisors LLC lifted its holdings in RxSight by 854.1% during the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after purchasing an additional 521 shares in the last quarter. Quarry LP lifted its stake in shares of RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in RxSight in the 3rd quarter worth $34,000. Quest Partners LLC bought a new stake in RxSight during the second quarter valued at about $41,000. Finally, KBC Group NV lifted its position in shares of RxSight by 63.6% in the third quarter. KBC Group NV now owns 1,232 shares of the company’s stock valued at $61,000 after acquiring an additional 479 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.