RxSight (NASDAQ:RXST) PT Raised to $68.00

RxSight (NASDAQ:RXST) had its target price increased by research analysts at Stifel Nicolaus from $64.00 to $68.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 8.26% from the company’s previous close.

RXST has been the subject of several other reports. Oppenheimer raised their price target on shares of RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on shares of RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $64.00 price target on shares of RxSight in a report on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $50.13.

RxSight Stock Up 1.8 %

Shares of RxSight stock traded up $1.13 during trading on Monday, hitting $62.81. The stock had a trading volume of 356,536 shares, compared to its average volume of 431,604. The stock has a 50 day simple moving average of $52.73 and a 200 day simple moving average of $43.06. RxSight has a 1 year low of $18.35 and a 1 year high of $64.92. The company has a market capitalization of $2.32 billion, a PE ratio of -44.01 and a beta of 1.21.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. The business had revenue of $28.58 million for the quarter, compared to the consensus estimate of $28.60 million. RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. As a group, equities analysts expect that RxSight will post -0.94 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $52.69, for a total value of $526,900.00. Following the completion of the sale, the chief financial officer now directly owns 13,938 shares in the company, valued at $734,393.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $52.69, for a total value of $526,900.00. Following the transaction, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at approximately $734,393.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shelley B. Thunen sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $49.90, for a total value of $998,000.00. Following the completion of the sale, the chief financial officer now owns 8,402 shares of the company’s stock, valued at $419,259.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,365 shares of company stock worth $2,614,520. 21.13% of the stock is owned by corporate insiders.

Institutional Trading of RxSight

Large investors have recently modified their holdings of the company. Artisan Partners Limited Partnership raised its holdings in RxSight by 17.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,437,765 shares of the company’s stock worth $67,989,000 after acquiring an additional 359,295 shares during the period. Vanguard Group Inc. increased its stake in shares of RxSight by 21.6% in the third quarter. Vanguard Group Inc. now owns 1,433,953 shares of the company’s stock worth $39,993,000 after purchasing an additional 255,150 shares during the period. Great Lakes Advisors LLC acquired a new position in shares of RxSight during the 4th quarter worth about $8,226,000. Lord Abbett & CO. LLC boosted its stake in RxSight by 13.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,628,320 shares of the company’s stock valued at $45,414,000 after purchasing an additional 197,099 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in RxSight by 263.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 243,346 shares of the company’s stock valued at $6,787,000 after buying an additional 176,451 shares during the last quarter. 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.