RxSight, Inc. (NASDAQ:RXST) Receives Consensus Rating of “Buy” from Analysts

RxSight, Inc. (NASDAQ:RXST) has received a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $60.63.

A number of brokerages have recently commented on RXST. Oppenheimer increased their target price on shares of RxSight from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Needham & Company LLC increased their target price on shares of RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. BTIG Research raised their price objective on shares of RxSight from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Stifel Nicolaus raised their price objective on shares of RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Wells Fargo & Company raised their price objective on shares of RxSight from $61.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th.

Insiders Place Their Bets

In other RxSight news, CFO Shelley B. Thunen sold 20,000 shares of the 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 of the company’s stock, valued at $419,259.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other RxSight news, CFO Shelley B. Thunen sold 20,000 shares of the 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 of the company’s stock, valued at $419,259.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the transaction, 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 85,625 shares of company stock valued at $4,837,150 over the last 90 days. 9.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RXST. Vanguard Group Inc. boosted 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 valued at $39,993,000 after purchasing an additional 255,150 shares during the period. Great Lakes Advisors LLC purchased a new position in shares of RxSight in the fourth quarter valued at approximately $8,226,000. M&G Plc purchased a new position in shares of RxSight in the first quarter valued at approximately $7,354,000. Victory Capital Management Inc. boosted its stake in shares of RxSight by 108.6% in the fourth quarter. Victory Capital Management Inc. now owns 256,684 shares of the company’s stock valued at $10,349,000 after purchasing an additional 133,642 shares during the period. Finally, Parkman Healthcare Partners LLC boosted its stake in shares of RxSight by 34.5% in the fourth quarter. Parkman Healthcare Partners LLC now owns 513,032 shares of the company’s stock valued at $20,685,000 after purchasing an additional 131,701 shares during the period. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Stock Performance

NASDAQ:RXST opened at $60.17 on Friday. The company has a fifty day moving average of $58.42 and a two-hundred day moving average of $51.90. The stock has a market capitalization of $2.23 billion, a PE ratio of -47.75 and a beta of 1.22. RxSight has a fifty-two week low of $20.66 and a fifty-two week high of $66.54.

RxSight (NASDAQ:RXST) last issued its earnings results on Monday, May 6th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). The business had revenue of $29.51 million during the quarter, compared to analyst estimates of $27.56 million. RxSight had a negative net margin of 44.01% and a negative return on equity of 27.68%. RxSight’s quarterly revenue was up 68.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.42) earnings per share. Research analysts forecast that RxSight will post -0.77 earnings per share for the current year.

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.