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

RxSight, Inc. (NASDAQ:RXST) has received an average recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $49.63.

A number of brokerages have weighed in on RXST. Stifel Nicolaus lifted their target price on RxSight from $54.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and issued a $64.00 price objective on shares of RxSight in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on shares of RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Oppenheimer boosted their price target on shares of RxSight from $54.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, February 29th.

Insiders Place Their Bets

In other news, CFO Shelley B. Thunen sold 9,125 shares of RxSight stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $47.02, for a total value of $429,057.50. Following the transaction, the chief financial officer now owns 13,691 shares of the company’s stock, valued at approximately $643,750.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $56.37, for a total value of $563,700.00. Following the completion of the sale, the chief financial officer now owns 13,691 shares of the company’s stock, valued at approximately $771,761.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shelley B. Thunen sold 9,125 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $47.02, for a total value of $429,057.50. Following the transaction, the chief financial officer now owns 13,691 shares in the company, valued at $643,750.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,641 shares of company stock worth $6,268,022. 21.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RxSight

Several institutional investors have recently added to or reduced their stakes in RXST. Counterpoint Mutual Funds LLC boosted its stake in RxSight by 102.9% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 13,573 shares of the company’s stock worth $700,000 after purchasing an additional 6,883 shares in the last quarter. Readystate Asset Management LP acquired a new stake in shares of RxSight during the fourth quarter worth $728,000. Parkman Healthcare Partners LLC grew its holdings in shares of RxSight by 34.5% during the fourth quarter. Parkman Healthcare Partners LLC now owns 513,032 shares of the company’s stock valued at $20,685,000 after buying an additional 131,701 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of RxSight in the 4th quarter valued at $904,000. Finally, Seven Eight Capital LP purchased a new position in RxSight in the 4th quarter worth $1,085,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Stock Up 1.5 %

Shares of RxSight stock opened at $52.34 on Tuesday. RxSight has a 52 week low of $17.09 and a 52 week high of $58.21. The company has a market capitalization of $1.94 billion, a PE ratio of -36.60 and a beta of 1.22. The stock’s fifty day moving average is $52.56 and its two-hundred day moving average is $41.18.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.10. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The company had revenue of $28.58 million during the quarter, compared to analysts’ expectations of $28.60 million. As a group, research analysts anticipate that RxSight will post -0.94 earnings per share for the current 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.