RxSight (NASDAQ:RXST) Receives “Equal Weight” Rating from Wells Fargo & Company

Wells Fargo & Company reiterated their equal weight rating on shares of RxSight (NASDAQ:RXST) in a research note published on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a $42.00 price objective on the stock, down from their prior price objective of $56.00.

Several other equities analysts have also recently issued reports on the company. UBS Group started coverage on RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price target on shares of RxSight in a report on Friday, September 13th. Finally, Jefferies Financial Group began coverage on RxSight in a research report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.13.

RxSight Price Performance

Shares of RxSight stock opened at $37.30 on Wednesday. The stock has a market cap of $1.50 billion, a PE ratio of -44.94 and a beta of 1.11. The firm has a fifty day moving average price of $46.98 and a 200 day moving average price of $50.86. RxSight has a 1 year low of $34.92 and a 1 year high of $66.54.

Insider Buying and Selling at RxSight

In other news, insider Ilya Goldshleger sold 1,330 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $46.13, for a total transaction of $61,352.90. Following the transaction, the insider now owns 42,246 shares in the company, valued at $1,948,807.98. This trade represents a 3.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jesse Anderson Corley purchased 11,111 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average cost of $45.37 per share, with a total value of $504,106.07. Following the acquisition, the director now owns 468,571 shares in the company, valued at $21,259,066.27. This represents a 2.43 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 65,807 shares of company stock valued at $3,202,275. Company insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Algert Global LLC acquired a new position in shares of RxSight during the second quarter valued at approximately $2,488,000. Victory Capital Management Inc. raised its stake in RxSight by 21.0% in the 3rd quarter. Victory Capital Management Inc. now owns 259,864 shares of the company’s stock valued at $12,845,000 after purchasing an additional 45,161 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in RxSight by 17.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 119,493 shares of the company’s stock valued at $7,190,000 after purchasing an additional 17,368 shares in the last quarter. Baillie Gifford & Co. boosted its stake in RxSight by 17.0% during the 3rd quarter. Baillie Gifford & Co. now owns 419,004 shares of the company’s stock worth $20,711,000 after purchasing an additional 60,789 shares during the last quarter. Finally, Legato Capital Management LLC grew its holdings in shares of RxSight by 46.7% during the second quarter. Legato Capital Management LLC now owns 29,800 shares of the company’s stock worth $1,793,000 after buying an additional 9,486 shares in the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

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.