RxSight, Inc. (NASDAQ:RXST) Receives $58.13 Consensus Price Target from Analysts

RxSight, Inc. (NASDAQ:RXST) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $58.13.

A number of research analysts have recently commented on RXST shares. Needham & Company LLC reissued a “buy” rating and set a $66.00 target price on shares of RxSight in a research report on Monday, January 13th. UBS Group assumed coverage on shares of RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective on the stock. Stifel Nicolaus lowered their target price on RxSight from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group began coverage on RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price on the stock. Finally, Wells Fargo & Company reduced their price target on RxSight from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, January 13th.

Insider Activity at RxSight

In related news, Director Shweta Maniar sold 3,519 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the sale, the director now owns 7,383 shares of the company’s stock, valued at $227,913.21. This represents a 32.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ilya Goldshleger sold 4,875 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $46.00, for a total transaction of $224,250.00. Following the sale, the insider now owns 42,246 shares in the company, valued at $1,943,316. This trade represents a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,581 shares of company stock worth $1,070,706 in the last 90 days. 9.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. RA Capital Management L.P. grew its holdings in RxSight by 6.0% during the third quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock worth $193,609,000 after acquiring an additional 222,000 shares during the period. Vanguard Group Inc. boosted its position in shares of RxSight by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company’s stock valued at $81,946,000 after purchasing an additional 96,464 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of RxSight by 32.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock valued at $53,345,000 after purchasing an additional 381,389 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of RxSight by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 830,758 shares of the company’s stock worth $28,568,000 after purchasing an additional 13,641 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of RxSight by 8.3% in the 3rd quarter. State Street Corp now owns 817,671 shares of the company’s stock worth $40,417,000 after purchasing an additional 62,349 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Trading Down 0.9 %

Shares of NASDAQ RXST opened at $31.90 on Monday. The stock has a fifty day moving average price of $34.38 and a 200 day moving average price of $44.46. RxSight has a 12-month low of $26.29 and a 12-month high of $66.54. The company has a market cap of $1.29 billion, a P/E ratio of -38.43 and a beta of 1.19.

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.