RxSight (NASDAQ:RXST) PT Lowered to $70.00

RxSight (NASDAQ:RXST) had its price target decreased by equities researchers at Stifel Nicolaus from $75.00 to $70.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 40.62% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Oppenheimer lifted their price target on RxSight from $61.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Needham & Company LLC lifted their target price on RxSight from $64.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. BTIG Research boosted their target price on shares of RxSight from $61.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, Wells Fargo & Company raised their price target on shares of RxSight from $61.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $65.00.

RxSight Stock Down 2.6 %

RXST opened at $49.78 on Wednesday. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -39.51 and a beta of 1.20. RxSight has a 12-month low of $20.66 and a 12-month high of $66.54. The business has a 50 day moving average of $58.68 and a 200-day moving average of $52.82.

RxSight (NASDAQ:RXST) last announced its earnings results on Monday, May 6th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.08). The company had revenue of $29.51 million for the quarter, compared to the consensus estimate of $27.56 million. RxSight had a negative return on equity of 27.68% and a negative net margin of 44.01%. The business’s quarterly revenue was up 68.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.42) EPS. As a group, analysts expect that RxSight will post -0.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $52.69, for a total value of $526,900.00. Following the completion of the transaction, the chief financial officer now directly owns 13,938 shares in the company, valued at approximately $734,393.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other RxSight news, Director Julie Andrews sold 15,625 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $58.00, for a total value of $906,250.00. Following the sale, the director now owns 30,287 shares of the company’s stock, valued at approximately $1,756,646. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $52.69, for a total value of $526,900.00. Following the transaction, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at approximately $734,393.22. The disclosure for this sale can be found here. Insiders have sold 75,625 shares of company stock worth $4,425,250 over the last ninety days. Corporate insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC boosted its stake in shares of RxSight by 727.5% in the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after purchasing an additional 371 shares in the last quarter. RA Capital Management L.P. lifted its stake in RxSight by 1.1% in the 1st quarter. RA Capital Management L.P. now owns 3,442,825 shares of the company’s stock valued at $177,581,000 after purchasing an additional 38,540 shares during the last quarter. California State Teachers Retirement System boosted its position in RxSight by 6.8% in the first quarter. California State Teachers Retirement System now owns 27,052 shares of the company’s stock valued at $1,395,000 after buying an additional 1,733 shares in the last quarter. Caxton Associates LP bought a new stake in shares of RxSight during the first quarter worth $1,208,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of RxSight by 1.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 60,908 shares of the company’s stock worth $3,143,000 after buying an additional 994 shares in the last quarter. Institutional investors 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.