RxSight, Inc. (NASDAQ:RXST) Given Consensus Rating of “Moderate Buy” by Analysts

RxSight, Inc. (NASDAQ:RXST) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $49.33.

A number of analysts have recently weighed in on RXST shares. Stifel Nicolaus dropped their price objective on RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday, March 19th. Bank of America cut their price target on shares of RxSight from $60.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price objective on shares of RxSight in a research note on Wednesday, February 26th. Wells Fargo & Company dropped their target price on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced their price target on RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On RxSight

Several hedge funds have recently bought and sold shares of RXST. Royal Bank of Canada lifted its holdings in shares of RxSight by 3,094.6% during the fourth quarter. Royal Bank of Canada now owns 508,491 shares of the company’s stock valued at $17,481,000 after purchasing an additional 492,574 shares during the last quarter. DF Dent & Co. Inc. bought a new position in RxSight during the 4th quarter valued at approximately $14,524,000. Bank of America Corp DE increased its position in RxSight by 23.7% during the 4th quarter. Bank of America Corp DE now owns 2,159,923 shares of the company’s stock valued at $74,258,000 after buying an additional 413,737 shares in the last quarter. Point72 Asset Management L.P. raised its stake in RxSight by 610.2% during the third quarter. Point72 Asset Management L.P. now owns 446,976 shares of the company’s stock valued at $22,094,000 after buying an additional 384,041 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in RxSight by 32.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock worth $53,345,000 after acquiring an additional 381,389 shares in the last quarter. Institutional investors own 78.78% of the company’s stock.

RxSight Stock Down 4.9 %

RxSight stock opened at $25.25 on Tuesday. The firm has a fifty day simple moving average of $29.00 and a two-hundred day simple moving average of $38.75. RxSight has a twelve month low of $24.09 and a twelve month high of $66.54. The company has a market capitalization of $1.02 billion, a PE ratio of -30.42 and a beta of 1.22.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.25). The company had revenue of $40.21 million during the quarter, compared to analysts’ expectations of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. As a group, equities analysts expect that RxSight will post -0.7 earnings per share for the current fiscal year.

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.