RxSight (NASDAQ:RXST) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of RxSight (NASDAQ:RXST) in a report issued on Monday,Benzinga reports. They currently have a $66.00 price objective on the stock.

A number of other research firms also recently commented on RXST. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $42.00 price target (down previously from $56.00) on shares of RxSight in a research note on Wednesday, December 11th. UBS Group started coverage on RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 target price for the company. Stifel Nicolaus downgraded RxSight from a “buy” rating to a “hold” rating and lowered their target price for the stock from $65.00 to $40.00 in a research note on Friday, December 20th. Finally, Jefferies Financial Group started coverage on RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.13.

RxSight Stock Down 8.1 %

RXST stock opened at $30.72 on Monday. The company has a market cap of $1.24 billion, a PE ratio of -37.01 and a beta of 1.20. The business has a 50-day simple moving average of $40.61 and a 200 day simple moving average of $47.38. RxSight has a 52 week low of $26.29 and a 52 week high of $66.54.

Insider Activity

In other news, Director Jesse Anderson Corley acquired 11,111 shares of the stock in a transaction dated Tuesday, November 12th. The stock was bought at an average price of $45.37 per share, with a total value of $504,106.07. Following the completion of the purchase, the director now directly owns 468,571 shares of the company’s stock, valued at $21,259,066.27. This represents a 2.43 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ilya Goldshleger sold 3,105 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $50.09, for a total value of $155,529.45. Following the completion of the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at $2,116,102.14. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,002 shares of company stock valued at $1,959,796 over the last quarter. 9.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after acquiring an additional 521 shares during the last quarter. Quarry LP boosted its holdings in RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in RxSight in the third quarter valued at approximately $34,000. Quest Partners LLC bought a new stake in RxSight in the second quarter valued at approximately $41,000. Finally, KBC Group NV boosted its holdings in RxSight by 63.6% in the third quarter. KBC Group NV now owns 1,232 shares of the company’s stock valued at $61,000 after acquiring an additional 479 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

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.