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

Shares of RxSight, Inc. (NASDAQ:RXST) have been given a consensus rating of “Buy” by the six analysts that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $49.63.

Several research firms have recently issued reports on RXST. Oppenheimer lifted their price target on RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lifted their price target on RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price target on shares of RxSight in a research report on Thursday, April 11th. Finally, Stifel Nicolaus lifted their price target on RxSight from $54.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th.

RxSight Trading Down 3.3 %

Shares of RxSight stock opened at $53.26 on Tuesday. The firm has a market capitalization of $1.97 billion, a P/E ratio of -37.24 and a beta of 1.22. The business has a fifty day simple moving average of $52.20 and a two-hundred day simple moving average of $40.27. RxSight has a 12 month low of $17.00 and a 12 month high of $58.21.

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

Insider Buying and Selling

In related news, CFO Shelley B. Thunen sold 31,772 shares of RxSight stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $47.11, for a total value of $1,496,778.92. Following the completion of the sale, the chief financial officer now directly owns 6,791 shares in the company, valued at approximately $319,924.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other RxSight news, Director Shweta Maniar sold 6,399 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $45.72, for a total transaction of $292,562.28. Following the completion of the sale, the director now directly owns 12,130 shares in the company, valued at approximately $554,583.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Shelley B. Thunen sold 31,772 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $47.11, for a total value of $1,496,778.92. Following the sale, the chief financial officer now owns 6,791 shares of the company’s stock, valued at $319,924.01. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,040 shares of company stock worth $7,280,585. 21.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RxSight

A number of large investors have recently made changes to their positions in RXST. JPMorgan Chase & Co. grew its stake in shares of RxSight by 4,739.2% during the 1st quarter. JPMorgan Chase & Co. now owns 565,506 shares of the company’s stock valued at $9,433,000 after acquiring an additional 553,820 shares during the period. BlackRock Inc. grew its stake in shares of RxSight by 30.6% during the 2nd 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 during the period. Artisan Partners Limited Partnership grew its stake in shares of RxSight by 17.3% during the 3rd 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 period. Vanguard Group Inc. grew its stake in shares of RxSight by 89.1% during the 1st quarter. Vanguard Group Inc. now owns 638,813 shares of the company’s stock valued at $7,908,000 after acquiring an additional 301,055 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of RxSight by 61.2% during the 4th quarter. Nuveen Asset Management LLC now owns 695,705 shares of the company’s stock valued at $28,051,000 after acquiring an additional 264,228 shares during the period. 78.78% of the stock is currently owned by institutional investors.

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.