RxSight (NASDAQ:RXST) Given New $72.00 Price Target at BTIG Research

RxSight (NASDAQ:RXST) had its target price hoisted by BTIG Research from $61.00 to $72.00 in a report issued on Tuesday, Marketbeat Ratings reports. BTIG Research currently has a buy rating on the stock.

RXST has been the topic of several other reports. Stifel Nicolaus upped their price target on RxSight from $64.00 to $68.00 and gave the company a buy rating in a research report on Monday. Needham & Company LLC reaffirmed a buy rating and set a $64.00 price objective on shares of RxSight in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised their target price on shares of RxSight from $40.00 to $62.00 and gave the stock an overweight rating in a report on Thursday, February 29th. Finally, Oppenheimer increased their price target on RxSight from $54.00 to $61.00 and gave the stock an outperform rating in a research report on Thursday, February 29th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $60.63.

RxSight Trading Down 1.0 %

Shares of RxSight stock opened at $62.19 on Tuesday. The company has a fifty day moving average price of $52.86 and a 200 day moving average price of $43.32. RxSight has a twelve month low of $18.35 and a twelve month high of $66.54. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -43.49 and a beta of 1.21.

RxSight (NASDAQ:RXST) last announced its earnings results on Monday, May 6th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.08). The firm had revenue of $29.51 million during the quarter, compared to analysts’ expectations of $27.56 million. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. RxSight’s revenue for the quarter was up 68.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.42) earnings per share. Analysts forecast that RxSight will post -0.94 earnings per share for the current year.

Insider Activity at RxSight

In related news, CEO Ronald M. Md Kurtz sold 40,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $60.15, for a total value of $2,406,000.00. Following the completion of the transaction, the chief executive officer now owns 764,610 shares in the company, valued at approximately $45,991,291.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other RxSight news, CFO Shelley B. Thunen sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was 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 is available through this link. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $60.15, for a total value of $2,406,000.00. Following the completion of the sale, the chief executive officer now directly owns 764,610 shares of the company’s stock, valued at approximately $45,991,291.50. The disclosure for this sale can be found here. Insiders sold a total of 90,365 shares of company stock valued at $5,020,520 over the last ninety days. Insiders own 21.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. RiverPark Advisors LLC grew its holdings in shares of RxSight by 70.0% during the 4th quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock worth $27,000 after purchasing an additional 275 shares in the last quarter. Amalgamated Bank raised its stake in shares of RxSight by 7.7% in the fourth quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock valued at $167,000 after purchasing an additional 298 shares in the last quarter. FORA Capital LLC boosted its stake in RxSight by 5.6% during the first quarter. FORA Capital LLC now owns 11,695 shares of the company’s stock worth $603,000 after buying an additional 622 shares in the last quarter. HighTower Advisors LLC increased its holdings in RxSight by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 13,256 shares of the company’s stock valued at $369,000 after buying an additional 899 shares during the period. Finally, Larson Financial Group LLC acquired a new position in shares of RxSight in the 1st quarter valued at $51,000. 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.