RxSight (NASDAQ:RXST) PT Raised to $66.00

RxSight (NASDAQ:RXST) had its price target boosted by analysts at Needham & Company LLC from $54.00 to $66.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 22.97% from the stock’s previous close.

Several other equities analysts have also recently issued reports on RXST. Stifel Nicolaus dropped their price target on RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company dropped their price target on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Oppenheimer dropped their target price on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, BTIG Research boosted their target price on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $60.14.

RxSight Price Performance

RxSight stock opened at $53.67 on Tuesday. RxSight has a fifty-two week low of $20.66 and a fifty-two week high of $66.54. The stock has a 50-day simple moving average of $51.64 and a 200-day simple moving average of $53.71.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.06. The firm had revenue of $34.89 million for the quarter, compared to analysts’ expectations of $32.33 million. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The firm’s revenue for the quarter was up 67.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) EPS. On average, research analysts anticipate that RxSight will post -0.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $58.61, for a total value of $586,100.00. Following the sale, the chief financial officer now owns 13,938 shares in the company, valued at approximately $816,906.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other RxSight news, Director Julie Andrews sold 15,625 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $58.00, for a total transaction of $906,250.00. Following the transaction, the director now owns 30,287 shares of the company’s stock, valued at approximately $1,756,646. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Shelley B. Thunen sold 10,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $58.61, for a total value of $586,100.00. Following the transaction, the chief financial officer now directly owns 13,938 shares in the company, valued at approximately $816,906.18. The disclosure for this sale can be found here. Insiders have sold a total of 34,625 shares of company stock worth $1,845,600 in the last quarter. Company insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Truist Financial Corp raised its position in shares of RxSight by 11.1% in the 2nd quarter. Truist Financial Corp now owns 5,827 shares of the company’s stock worth $351,000 after buying an additional 583 shares during the period. Point72 Asset Management L.P. raised its position in shares of RxSight by 279.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 62,935 shares of the company’s stock worth $3,787,000 after buying an additional 46,336 shares during the period. Doheny Asset Management CA raised its position in shares of RxSight by 51.7% in the 2nd quarter. Doheny Asset Management CA now owns 14,490 shares of the company’s stock worth $872,000 after buying an additional 4,940 shares during the period. Algert Global LLC purchased a new position in shares of RxSight in the 2nd quarter worth $2,488,000. Finally, Driehaus Capital Management LLC raised its position in shares of RxSight by 74.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock worth $42,490,000 after buying an additional 302,367 shares during the period. Hedge funds and other 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.