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

Shares of RxSight, Inc. (NASDAQ:RXST) have received a consensus rating of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued a report on the stock in the last year is $65.14.

A number of research analysts have recently issued reports on RXST shares. Needham & Company LLC lifted their target price on shares of RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Oppenheimer lifted their target price on shares of RxSight from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Stifel Nicolaus cut their target price on shares of RxSight from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company lifted their target price on shares of RxSight from $61.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Finally, BTIG Research raised their price target on shares of RxSight from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, July 15th.

Insiders Place Their Bets

In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of RxSight stock in a transaction on Monday, July 1st. The shares were sold at an average price of $58.61, for a total transaction of $586,100.00. Following the completion of the sale, the chief financial officer now owns 13,938 shares of the company’s stock, valued at approximately $816,906.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Ronald M. Md Kurtz sold 40,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $60.15, for a total value of $2,406,000.00. Following the completion of the transaction, the chief executive officer now owns 764,610 shares of the company’s stock, valued at approximately $45,991,291.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $58.61, for a total transaction of $586,100.00. Following the completion of the transaction, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at approximately $816,906.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,625 shares of company stock valued at $3,898,350. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Several institutional investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. lifted its position in RxSight by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,861 shares of the company’s stock valued at $473,000 after acquiring an additional 242 shares in the last quarter. Principal Financial Group Inc. lifted its position in RxSight by 2.5% during the 2nd quarter. Principal Financial Group Inc. now owns 35,806 shares of the company’s stock worth $2,154,000 after buying an additional 878 shares in the last quarter. F M Investments LLC bought a new stake in RxSight during the 2nd quarter worth about $317,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in RxSight by 243.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,366 shares of the company’s stock worth $684,000 after buying an additional 8,058 shares in the last quarter. Finally, HB Wealth Management LLC bought a new stake in RxSight during the 2nd quarter worth about $236,000. 78.78% of the stock is owned by institutional investors.

RxSight Stock Performance

Shares of RXST opened at $45.77 on Thursday. RxSight has a 12 month low of $20.66 and a 12 month high of $66.54. The company has a 50-day moving average price of $54.56 and a two-hundred day moving average price of $53.46.

RxSight (NASDAQ:RXST) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). RxSight had a negative return on equity of 27.68% and a negative net margin of 44.01%. The business had revenue of $29.51 million for the quarter, compared to the consensus estimate of $27.56 million. During the same quarter in the prior year, the business earned ($0.42) EPS. The firm’s revenue for the quarter was up 68.7% on a year-over-year basis. Analysts expect that RxSight will post -0.75 EPS for the current fiscal year.

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.