RxSight’s (RXST) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of RxSight (NASDAQ:RXST) in a report published on Wednesday,Benzinga reports. The firm currently has a $43.00 price target on the stock.

Several other equities analysts also recently weighed in on RXST. UBS Group began coverage on shares of RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 target price for the company. Wells Fargo & Company reduced their target price on shares of RxSight from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group began coverage on shares of RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price for the company. Finally, Stifel Nicolaus reduced their target price on shares of RxSight from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, RxSight currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.63.

RxSight Stock Performance

RXST opened at $28.36 on Wednesday. The firm has a market cap of $1.14 billion, a P/E ratio of -34.17 and a beta of 1.19. The firm has a 50-day moving average of $32.31 and a 200 day moving average of $43.10. RxSight has a fifty-two week low of $26.29 and a fifty-two week high of $66.54.

RxSight (NASDAQ:RXST) last issued its earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). The business had revenue of $40.21 million for the quarter, compared to the consensus estimate of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. Equities research analysts predict that RxSight will post -0.7 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jesse Anderson Corley bought 1,443 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was acquired at an average cost of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the transaction, the director now directly owns 1,443 shares in the company, valued at $44,992.74. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shweta Maniar sold 3,519 shares of RxSight stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total transaction of $108,631.53. Following the sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $227,913.21. The trade was a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On RxSight

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its position in RxSight by 854.1% during the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after purchasing an additional 521 shares during the last quarter. Quarry LP lifted its holdings in shares of RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after acquiring an additional 288 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of RxSight in the 3rd quarter worth approximately $34,000. Private Trust Co. NA bought a new stake in shares of RxSight in the 4th quarter worth approximately $34,000. Finally, State of Wyoming bought a new stake in shares of RxSight in the 4th quarter worth approximately $37,000. 78.78% of the stock is currently 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.