RxSight, Inc. (NASDAQ:RXST) Receives $49.63 Consensus Target Price from Analysts

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

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

RxSight Price Performance

Shares of RxSight stock opened at $51.75 on Tuesday. RxSight has a fifty-two week low of $17.00 and a fifty-two week high of $58.21. The firm has a market capitalization of $1.91 billion, a P/E ratio of -36.19 and a beta of 1.22. The company’s 50 day moving average price is $52.50 and its two-hundred day moving average price is $40.62.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.10. The company had revenue of $28.58 million for the quarter, compared to analyst estimates of $28.60 million. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. On average, analysts expect 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 20,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $49.90, for a total transaction of $998,000.00. Following the transaction, the chief financial officer now directly owns 8,402 shares in the company, valued at $419,259.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other RxSight news, 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 transaction, the chief financial officer now directly owns 6,791 shares in the company, valued at $319,924.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Shelley B. Thunen sold 20,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $49.90, for a total transaction of $998,000.00. Following the completion of the transaction, the chief financial officer now owns 8,402 shares in the company, valued at $419,259.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,641 shares of company stock worth $6,988,022. 21.13% of the stock is owned by insiders.

Institutional Trading of RxSight

A number of institutional investors have recently modified their holdings of RXST. JPMorgan Chase & Co. lifted its stake in shares of RxSight by 52.2% during the 1st quarter. JPMorgan Chase & Co. now owns 8,227 shares of the company’s stock valued at $102,000 after buying an additional 2,820 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of RxSight by 123.8% during the 1st quarter. Bank of New York Mellon Corp now owns 38,663 shares of the company’s stock valued at $479,000 after buying an additional 21,385 shares in the last quarter. Rhumbline Advisers bought a new stake in RxSight during the 1st quarter worth approximately $153,000. BlackRock Inc. increased its holdings in RxSight by 86.0% during the 1st quarter. BlackRock Inc. now owns 735,589 shares of the company’s stock worth $9,106,000 after acquiring an additional 340,091 shares during the period. Finally, Vanguard Group Inc. increased its holdings in RxSight by 89.1% during the 1st quarter. Vanguard Group Inc. now owns 638,813 shares of the company’s stock worth $7,908,000 after acquiring an additional 301,055 shares during the period. 78.78% of the stock is currently owned by hedge funds and other 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.