RxSight (NASDAQ:RXST) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of RxSight (NASDAQ:RXST) in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $72.00 target price on the stock.

RXST has been the subject of a number of other reports. Wells Fargo & Company lowered their price target on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Oppenheimer cut their price target on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. BTIG Research lifted their price objective on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Stifel Nicolaus reduced their target price on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $66.00 price target on shares of RxSight in a research note on Friday, September 13th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $61.63.

RxSight Price Performance

NASDAQ:RXST opened at $50.66 on Tuesday. RxSight has a 12 month low of $21.14 and a 12 month high of $66.54. The business’s 50-day moving average is $51.75 and its two-hundred day moving average is $53.61. The firm has a market capitalization of $1.87 billion, a PE ratio of -49.67 and a beta of 1.20.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.06. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The firm had revenue of $34.89 million for the quarter, compared to analyst estimates of $32.33 million. During the same period in the previous year, the company posted ($0.40) EPS. RxSight’s revenue for the quarter was up 67.6% on a year-over-year basis. Equities analysts anticipate that RxSight will post -0.81 EPS for the current year.

Insiders Place Their Bets

In other news, insider Ilya Goldshleger sold 3,100 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $53.19, for a total value of $164,889.00. Following the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $2,247,064.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 52,415 shares of company stock valued at $2,532,097 over the last 90 days. 9.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On RxSight

Several institutional investors have recently made changes to their positions in the stock. Amalgamated Bank boosted its position in RxSight by 21.3% during the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after purchasing an additional 207 shares during the period. Principal Financial Group Inc. grew its position in shares of RxSight by 0.7% during the third quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock worth $1,782,000 after acquiring an additional 240 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of RxSight by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,861 shares of the company’s stock worth $473,000 after acquiring an additional 242 shares during the period. RiverPark Advisors LLC lifted its position in RxSight by 9.6% in the 2nd quarter. RiverPark Advisors LLC now owns 3,379 shares of the company’s stock valued at $203,000 after purchasing an additional 297 shares during the last quarter. Finally, CWM LLC boosted its stake in RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after purchasing an additional 371 shares during the period. 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.