Stifel Nicolaus Trims RxSight (NASDAQ:RXST) Target Price to $70.00

RxSight (NASDAQ:RXST) had its price objective trimmed by Stifel Nicolaus from $75.00 to $70.00 in a report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

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

RxSight Trading Down 4.1 %

Shares of RxSight stock opened at $47.72 on Wednesday. RxSight has a twelve month low of $20.66 and a twelve month high of $66.54. The company has a 50-day simple moving average of $58.40 and a two-hundred day simple moving average of $52.88.

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

Insider Activity at RxSight

In other RxSight news, CEO Ronald M. Md Kurtz sold 40,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the sale, the chief executive officer now owns 764,610 shares of the company’s stock, valued at $45,991,291.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Ronald M. Md Kurtz sold 40,000 shares of RxSight stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the sale, the chief executive officer now directly owns 764,610 shares of the company’s stock, valued at $45,991,291.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shelley B. Thunen sold 10,000 shares of the company’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 of the company’s stock, valued at approximately $734,393.22. The disclosure for this sale can be found here. Insiders sold a total of 75,625 shares of company stock valued at $4,425,250 in the last quarter. Insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in RxSight by 21.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,433,953 shares of the company’s stock worth $39,993,000 after purchasing an additional 255,150 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of RxSight in the fourth quarter worth approximately $8,226,000. M&G Plc bought a new stake in RxSight in the first quarter valued at approximately $7,354,000. Victory Capital Management Inc. increased its position in RxSight by 108.6% during the 4th quarter. Victory Capital Management Inc. now owns 256,684 shares of the company’s stock valued at $10,349,000 after purchasing an additional 133,642 shares during the period. Finally, Parkman Healthcare Partners LLC raised its holdings in RxSight by 34.5% during the 4th quarter. Parkman Healthcare Partners LLC now owns 513,032 shares of the company’s stock worth $20,685,000 after purchasing an additional 131,701 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

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.