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

Shares of RxSight, Inc. (NASDAQ:RXST) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $58.13.

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

Insider Buying and Selling

In other news, Director Jesse Anderson Corley acquired 11,111 shares of RxSight stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the acquisition, the director now owns 468,571 shares of the company’s stock, valued at $21,259,066.27. This trade represents a 2.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ilya Goldshleger sold 3,105 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total value of $161,180.55. Following the completion of the sale, the insider now owns 42,246 shares in the company, valued at approximately $2,192,989.86. This represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,902 shares of company stock valued at $1,805,478 in the last three months. 9.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Amalgamated Bank lifted its holdings in shares of RxSight by 21.3% in the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after purchasing an additional 207 shares during the last quarter. Principal Financial Group Inc. boosted its stake in RxSight by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock worth $1,782,000 after purchasing an additional 240 shares during the period. Quarry LP grew its position in RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after purchasing an additional 288 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of RxSight by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock valued at $1,034,000 after buying an additional 399 shares during the last quarter. Finally, MCIA Inc boosted its stake in shares of RxSight by 5.7% during the third quarter. MCIA Inc now owns 8,459 shares of the company’s stock worth $385,000 after buying an additional 459 shares during the period. 78.78% of the stock is owned by hedge funds and other institutional investors.

RxSight Trading Up 4.1 %

RXST stock opened at $31.32 on Thursday. The business’s 50-day moving average is $40.18 and its 200 day moving average is $47.17. RxSight has a 12-month low of $26.29 and a 12-month high of $66.54. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -37.73 and a beta of 1.20.

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.