RxSight, Inc. (NASDAQ:RXST) Receives $51.63 Consensus Target Price from Brokerages

by · The Markets Daily

RxSight, Inc. (NASDAQ:RXST – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $51.63.

Several equities analysts have commented on the company. UBS Group assumed coverage on RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 price objective for the company. Wells Fargo & Company cut their price objective on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price target on shares of RxSight in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus reduced their price target on RxSight from $35.00 to $33.00 and set a “hold” rating for the company in a report on Wednesday, February 26th.

Read Our Latest Report on RXST

Insider Transactions at RxSight

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

Institutional Investors Weigh In On RxSight

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in RxSight by 17.7% in the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after purchasing an additional 122,775 shares during the last quarter. Victory Capital Management Inc. grew its position in RxSight by 21.0% during the third quarter. Victory Capital Management Inc. now owns 259,864 shares of the company’s stock valued at $12,845,000 after buying an additional 45,161 shares during the period. Baillie Gifford & Co. increased its holdings in RxSight by 17.0% during the third quarter. Baillie Gifford & Co. now owns 419,004 shares of the company’s stock valued at $20,711,000 after buying an additional 60,789 shares during the last quarter. Barclays PLC raised its position in RxSight by 389.8% in the third quarter. Barclays PLC now owns 58,786 shares of the company’s stock worth $2,906,000 after acquiring an additional 46,783 shares during the period. Finally, State Street Corp raised its holdings in 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 during the period. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

RxSight Trading Up 2.7 %

NASDAQ:RXST opened at $25.44 on Friday. The company has a 50-day moving average price of $31.11 and a 200-day moving average price of $41.63. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -30.65 and a beta of 1.22. RxSight has a 12 month low of $24.64 and a 12 month high of $66.54.

RxSight (NASDAQ:RXST – Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.25). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The firm had revenue of $40.21 million for the quarter, compared to the consensus estimate of $40.23 million. Equities analysts forecast that RxSight will post -0.7 EPS for the current fiscal year.

RxSight Company Profile

(Get Free Report

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.

See Also