Analysts Set RxSight, Inc. (NASDAQ:RXST) Target Price at $49.63

RxSight, Inc. (NASDAQ:RXST) has earned a consensus rating of “Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $49.63.

A number of analysts recently commented on the company. Oppenheimer increased their price objective on RxSight from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Stifel Nicolaus increased their price objective on RxSight from $54.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price objective on shares of RxSight in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. increased their price objective on RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th.

RxSight Stock Down 2.0 %

Shares of RXST stock opened at $51.75 on Tuesday. RxSight has a fifty-two week low of $17.00 and a fifty-two week high of $58.21. The stock has a market cap of $1.91 billion, a P/E ratio of -36.19 and a beta of 1.22. The business has a fifty day simple moving average of $52.50 and a 200-day simple moving average of $40.62.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. The business had revenue of $28.58 million for the quarter, compared to analyst estimates of $28.60 million. RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. On average, sell-side analysts anticipate that RxSight will post -0.94 earnings per share for the current year.

Insiders Place Their Bets

In other RxSight news, Director Bakker Juliet Tammenoms purchased 4,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $50.38 per share, with a total value of $201,520.00. Following the purchase, the director now owns 25,840 shares in the company, valued at $1,301,819.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Shelley B. Thunen sold 20,000 shares of RxSight stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $49.90, for a total value of $998,000.00. Following the transaction, the chief financial officer now directly owns 8,402 shares of the company’s stock, valued at approximately $419,259.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bakker Juliet Tammenoms acquired 4,000 shares of RxSight stock in a transaction dated Monday, February 12th. The stock was purchased at an average cost of $50.38 per share, for a total transaction of $201,520.00. Following the completion of the purchase, the director now directly owns 25,840 shares in the company, valued at $1,301,819.20. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 141,641 shares of company stock valued at $6,988,022. Insiders own 21.13% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several hedge funds and other institutional investors have recently modified their holdings of RXST. JPMorgan Chase & Co. lifted its stake in shares of RxSight by 52.2% in the 1st quarter. JPMorgan Chase & Co. now owns 8,227 shares of the company’s stock valued at $102,000 after purchasing an additional 2,820 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of RxSight by 123.8% during the 1st quarter. Bank of New York Mellon Corp now owns 38,663 shares of the company’s stock valued at $479,000 after buying an additional 21,385 shares during the period. Rhumbline Advisers purchased a new stake in shares of RxSight during the 1st quarter valued at about $153,000. BlackRock Inc. raised its holdings in shares of RxSight by 86.0% during the 1st quarter. BlackRock Inc. now owns 735,589 shares of the company’s stock valued at $9,106,000 after buying an additional 340,091 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of RxSight by 89.1% during the 1st quarter. Vanguard Group Inc. now owns 638,813 shares of the company’s stock valued at $7,908,000 after buying an additional 301,055 shares during the period. 78.78% of the stock is owned by institutional investors and hedge funds.

RxSight Company Profile

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.