Analysts Set RxSight, Inc. (NASDAQ:RXST) Price Target at $49.33

Shares of RxSight, Inc. (NASDAQ:RXST) have earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $43.78.

A number of equities research analysts recently issued reports on RXST shares. Stifel Nicolaus dropped their target price on RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price objective on shares of RxSight in a research report on Thursday. JPMorgan Chase & Co. restated an “underweight” rating and set a $17.00 target price (down previously from $40.00) on shares of RxSight in a report on Friday. Wells Fargo & Company reduced their price objective on shares of RxSight from $35.00 to $22.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Bank of America restated an “underperform” rating and issued a $22.00 price objective (down previously from $36.00) on shares of RxSight in a report on Thursday.

RxSight Stock Up 0.3 %

RXST stock opened at $16.26 on Tuesday. RxSight has a twelve month low of $14.37 and a twelve month high of $66.54. The business’s fifty day moving average is $28.12 and its 200-day moving average is $37.90. The company has a market cap of $658.38 million, a P/E ratio of -19.59 and a beta of 1.26.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $40.23 million. Research analysts anticipate that RxSight will post -0.7 earnings per share for the current fiscal year.

Insider Transactions at RxSight

In other RxSight news, Director Tamara Fountain sold 7,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the completion of the transaction, the director now directly owns 24,793 shares in the company, valued at approximately $637,428.03. This trade represents a 22.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jesse Anderson Corley purchased 1,443 shares of RxSight stock in a transaction dated Wednesday, January 15th. The shares were purchased at an average price of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the acquisition, the director now owns 1,443 shares of the company’s stock, valued at approximately $44,992.74. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 9.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RxSight

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in RxSight by 28.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 285,329 shares of the company’s stock worth $14,104,000 after acquiring an additional 62,507 shares during the period. Bank of Montreal Can grew its position in shares of RxSight by 32.4% during the 3rd quarter. Bank of Montreal Can now owns 119,580 shares of the company’s stock worth $5,804,000 after buying an additional 29,230 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of RxSight by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock worth $1,034,000 after buying an additional 399 shares during the period. MetLife Investment Management LLC increased its stake in shares of RxSight by 4.0% in the 3rd quarter. MetLife Investment Management LLC now owns 20,525 shares of the company’s stock valued at $1,015,000 after acquiring an additional 790 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of RxSight by 8.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,818 shares of the company’s stock valued at $3,402,000 after acquiring an additional 5,266 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.

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.