Brokerages Set RxSight, Inc. (NASDAQ:RXST) Target Price at $49.33

RxSight, Inc. (NASDAQ:RXST) has earned a consensus rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $43.78.

A number of brokerages recently weighed in on RXST. JPMorgan Chase & Co. reissued an “underweight” rating and set a $17.00 target price (down previously from $40.00) on shares of RxSight in a research note on Friday. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price objective on shares of RxSight in a research note on Thursday, April 3rd. Wells Fargo & Company cut their target price on RxSight from $35.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 3rd. Bank of America reiterated an “underperform” rating and issued a $22.00 target price (down from $36.00) on shares of RxSight in a report on Thursday, April 3rd. Finally, Stifel Nicolaus cut their price target on RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, March 19th.

RxSight Trading Up 2.2 %

Shares of RXST stock opened at $16.61 on Tuesday. RxSight has a 1-year low of $14.37 and a 1-year high of $66.54. The stock has a market cap of $672.56 million, a price-to-earnings ratio of -20.01 and a beta of 1.26. The stock has a 50-day moving average of $27.80 and a 200-day moving average of $37.53.

RxSight (NASDAQ:RXST) last released its earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The firm had revenue of $40.21 million for the quarter, compared to analyst estimates of $40.23 million. Sell-side analysts forecast that RxSight will post -0.7 earnings per share for the current year.

Insider Activity

In other RxSight news, Director Jesse Anderson Corley acquired 1,443 shares of RxSight stock in a transaction dated Wednesday, January 15th. The stock was purchased at an average cost of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the acquisition, the director now directly owns 1,443 shares of the company’s stock, valued at $44,992.74. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tamara Fountain sold 7,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the sale, the director now directly owns 24,793 shares of the company’s stock, valued at approximately $637,428.03. The trade was a 22.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.36% of the company’s stock.

Institutional Trading of RxSight

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP lifted its holdings in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in RxSight in the 3rd quarter valued at $34,000. Private Trust Co. NA bought a new position in RxSight during the 4th quarter valued at $34,000. State of Wyoming purchased a new position in RxSight during the 4th quarter worth $37,000. Finally, Coppell Advisory Solutions LLC grew its stake in shares of RxSight by 108.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company’s stock worth $44,000 after acquiring an additional 672 shares in the last quarter. 78.78% of the stock is 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.