RxSight (NASDAQ:RXST) PT Raised to $68.00

RxSight (NASDAQ:RXST) had its price objective upped by investment analysts at Stifel Nicolaus from $64.00 to $68.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 9.34% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on RXST. Oppenheimer boosted their price objective on RxSight from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and issued a $64.00 price objective on shares of RxSight in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their price objective on RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, RxSight has a consensus rating of “Buy” and an average price target of $60.63.

RxSight Stock Performance

Shares of NASDAQ:RXST opened at $62.19 on Monday. The company’s 50-day moving average is $52.86 and its 200 day moving average is $43.32. The company has a market capitalization of $2.30 billion, a P/E ratio of -43.49 and a beta of 1.21. RxSight has a fifty-two week low of $18.35 and a fifty-two week high of $66.54.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.25) earnings per share 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 company had revenue of $29.51 million during the quarter, compared to analysts’ expectations of $27.56 million. During the same period last year, the firm posted ($0.42) earnings per share. RxSight’s quarterly revenue was up 68.7% compared to the same quarter last year. As a group, research analysts predict that RxSight will post -0.94 earnings per share for the current year.

Insider Activity

In related news, Director Bakker Juliet Tammenoms purchased 4,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $50.38 per share, for a total transaction of $201,520.00. Following the completion of the transaction, the director now directly owns 25,840 shares in the company, valued at approximately $1,301,819.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Bakker Juliet Tammenoms purchased 4,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $50.38 per share, for a total transaction of $201,520.00. Following the completion of the transaction, the director now directly owns 25,840 shares in the company, valued at approximately $1,301,819.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $56.37, for a total transaction of $563,700.00. Following the completion of the transaction, the chief financial officer now owns 13,691 shares in the company, valued at $771,761.67. The disclosure for this sale can be found here. Insiders have sold a total of 90,365 shares of company stock worth $5,020,520 over the last ninety days. Company insiders own 21.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. RiverPark Advisors LLC increased its position in shares of RxSight by 70.0% in the fourth quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock worth $27,000 after purchasing an additional 275 shares during the last quarter. Larson Financial Group LLC bought a new position in shares of RxSight in the first quarter worth approximately $51,000. BluePath Capital Management LLC bought a new position in shares of RxSight in the third quarter worth approximately $32,000. Amalgamated Bank increased its position in shares of RxSight by 7.7% in the fourth quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock worth $167,000 after purchasing an additional 298 shares during the last quarter. Finally, Clear Rock Advisors LLC bought a new position in shares of RxSight in the fourth quarter worth approximately $172,000. 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.