RxSight (NASDAQ:RXST) PT Raised to $68.00

RxSight (NASDAQ:RXST) had its target price upped by equities researchers at Wells Fargo & Company from $61.00 to $68.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 12.10% from the stock’s current price.

A number of other equities analysts have also commented on RXST. BTIG Research raised their price objective on shares of RxSight from $61.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Stifel Nicolaus raised their price objective on RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC lifted their target price on RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Oppenheimer increased their price target on shares of RxSight from $61.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $60.63.

RxSight Stock Down 2.5 %

Shares of NASDAQ RXST opened at $60.66 on Tuesday. The stock’s fifty day simple moving average is $52.95 and its 200 day simple moving average is $43.59. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -42.42 and a beta of 1.21. RxSight has a 52-week low of $18.72 and a 52-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 in the prior year, the business posted ($0.42) EPS. The company’s revenue for the quarter was up 68.7% compared to the same quarter last year. As a group, analysts anticipate that RxSight will post -0.94 earnings per share for the current year.

Insider Activity

In other news, Director Bakker Juliet Tammenoms acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average price of $50.38 per share, for a total transaction of $201,520.00. Following the completion of the acquisition, the director now owns 25,840 shares of the company’s stock, valued at approximately $1,301,819.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RxSight news, COO Ilya Goldshleger sold 10,365 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $50.74, for a total transaction of $525,920.10. Following the transaction, the chief operating officer now directly owns 26,475 shares in the company, valued at $1,343,341.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Bakker Juliet Tammenoms purchased 4,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were bought at an average price of $50.38 per share, with a total value of $201,520.00. Following the purchase, the director now owns 25,840 shares in the company, valued at approximately $1,301,819.20. The disclosure for this purchase can be found here. Insiders sold a total of 90,365 shares of company stock worth $5,020,520 in the last three months. 21.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Artisan Partners Limited Partnership boosted its position in RxSight by 17.3% during the third quarter. Artisan Partners Limited Partnership now owns 2,437,765 shares of the company’s stock worth $67,989,000 after purchasing an additional 359,295 shares during the period. Lord Abbett & CO. LLC boosted its holdings in shares of RxSight by 13.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,628,320 shares of the company’s stock worth $45,414,000 after buying an additional 197,099 shares during the period. Vanguard Group Inc. grew its stake in RxSight by 21.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,433,953 shares of the company’s stock valued at $39,993,000 after buying an additional 255,150 shares during the last quarter. Parkman Healthcare Partners LLC raised its holdings in RxSight by 34.5% in the 4th quarter. Parkman Healthcare Partners LLC now owns 513,032 shares of the company’s stock worth $20,685,000 after acquiring an additional 131,701 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in RxSight by 108.6% in the 4th quarter. Victory Capital Management Inc. now owns 256,684 shares of the company’s stock worth $10,349,000 after acquiring an additional 133,642 shares during the period. 78.78% of the stock is 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.