RxSight (NASDAQ:RXST) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of RxSight (NASDAQ:RXST) in a report issued on Monday morning,Benzinga reports. They currently have a $66.00 price objective on the stock.

Several other analysts have also recently issued reports on RXST. Jefferies Financial Group assumed coverage on RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price for the company. UBS Group initiated coverage on shares of RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective for the company. Stifel Nicolaus downgraded shares of RxSight from a “buy” rating to a “hold” rating and reduced their target price for the stock from $65.00 to $40.00 in a report on Friday, December 20th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $42.00 price target (down previously from $56.00) on shares of RxSight in a report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.13.

RxSight Stock Up 4.1 %

Shares of RXST stock opened at $31.32 on Monday. The company has a 50 day simple moving average of $40.18 and a two-hundred day simple moving average of $47.17. RxSight has a 12 month low of $26.29 and a 12 month high of $66.54.

Insider Buying and Selling

In other RxSight news, Director Jesse Anderson Corley bought 11,111 shares of RxSight stock in a transaction on Tuesday, November 12th. The shares were acquired at an average price of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the purchase, the director now directly owns 468,571 shares in the company, valued at approximately $21,259,066.27. This trade represents a 2.43 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $49.68, for a total value of $154,008.00. Following the sale, the insider now owns 42,246 shares of the company’s stock, valued at approximately $2,098,781.28. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,902 shares of company stock valued at $1,805,478 in the last ninety days. 9.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On RxSight

A number of hedge funds have recently added to or reduced their stakes in RXST. Rhumbline Advisers boosted its holdings in shares of RxSight by 22.2% in the second quarter. Rhumbline Advisers now owns 47,465 shares of the company’s stock valued at $2,856,000 after purchasing an additional 8,632 shares during the period. Arizona State Retirement System raised its position in RxSight by 5.0% during the 2nd quarter. Arizona State Retirement System now owns 7,765 shares of the company’s stock valued at $467,000 after purchasing an additional 373 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of RxSight in the 2nd quarter worth $41,000. Parallel Advisors LLC bought a new position in shares of RxSight during the 2nd quarter worth $477,000. Finally, William Blair Investment Management LLC purchased a new position in shares of RxSight during the second quarter valued at $14,942,000. 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.