Analysts Set RxSight, Inc. (NASDAQ:RXST) Price Target at $65.14

RxSight, Inc. (NASDAQ:RXST) has received a consensus recommendation of “Buy” from the seven brokerages that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $65.14.

Several analysts have commented on the stock. Wells Fargo & Company lifted their price objective 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. Needham & Company LLC boosted their price target on shares of RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Stifel Nicolaus lowered their price target on shares of RxSight from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Oppenheimer boosted their price target on shares of RxSight from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Finally, BTIG Research boosted their price target on shares of RxSight from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, July 15th.

RxSight Price Performance

RXST opened at $45.77 on Thursday. The company’s 50-day moving average is $54.56 and its 200 day moving average is $53.46. RxSight has a fifty-two week low of $20.66 and a fifty-two week high of $66.54.

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). RxSight had a negative net margin of 44.01% and a negative return on equity of 27.68%. The firm had revenue of $29.51 million for the quarter, compared to the consensus estimate of $27.56 million. During the same period in the previous year, the business earned ($0.42) earnings per share. The firm’s revenue for the quarter was up 68.7% on a year-over-year basis. On average, equities research analysts anticipate that RxSight will post -0.75 EPS for the current fiscal year.

Insider Transactions at RxSight

In other news, CEO Ronald M. Md Kurtz sold 40,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $60.15, for a total value of $2,406,000.00. Following the transaction, the chief executive officer now owns 764,610 shares of the company’s stock, valued at approximately $45,991,291.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Ronald M. Md Kurtz sold 40,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $60.15, for a total value of $2,406,000.00. Following the transaction, the chief executive officer now owns 764,610 shares of the company’s stock, valued at approximately $45,991,291.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $58.61, for a total transaction of $586,100.00. Following the completion of the sale, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at approximately $816,906.18. The disclosure for this sale can be found here. Insiders have sold 65,625 shares of company stock valued at $3,898,350 in the last quarter. Insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

A number of institutional investors have recently made changes to their positions in the business. Crossmark Global Holdings Inc. boosted its stake in shares of RxSight by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,861 shares of the company’s stock valued at $473,000 after purchasing an additional 242 shares in the last quarter. Principal Financial Group Inc. boosted its position in RxSight by 2.5% during the 2nd quarter. Principal Financial Group Inc. now owns 35,806 shares of the company’s stock valued at $2,154,000 after buying an additional 878 shares during the period. F M Investments LLC purchased a new stake in RxSight during the 2nd quarter valued at $317,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in RxSight by 243.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,366 shares of the company’s stock valued at $684,000 after buying an additional 8,058 shares during the period. Finally, HB Wealth Management LLC purchased a new stake in RxSight during the 2nd quarter valued at $236,000. 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.