RxSight (NASDAQ:RXST) Price Target Raised to $68.00 at Wells Fargo & Company

RxSight (NASDAQ:RXST) had its price target raised by equities researchers at Wells Fargo & Company from $61.00 to $68.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 7.90% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Stifel Nicolaus lifted their price target on shares of RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Monday. 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 report on Tuesday. Oppenheimer boosted their price objective on RxSight from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday. Needham & Company LLC upped their price target on shares of RxSight from $64.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $60.63.

RxSight Stock Up 0.3 %

NASDAQ RXST traded up $0.18 on Tuesday, reaching $63.02. The company had a trading volume of 300,511 shares, compared to its average volume of 432,584. RxSight has a 52-week low of $18.35 and a 52-week high of $66.54. The company’s fifty day moving average is $52.86 and its 200 day moving average is $43.32. The stock has a market capitalization of $2.33 billion, a P/E ratio of -44.07 and a beta of 1.21.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The business had revenue of $29.51 million for the quarter, compared to analysts’ expectations of $27.56 million. During the same period in the previous year, the business posted ($0.42) earnings per share. The business’s revenue was up 68.7% compared to the same quarter last year. On average, research analysts expect that RxSight will post -0.94 EPS for the current year.

Insider Activity

In related news, Director Bakker Juliet Tammenoms bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $50.38 per share, for a total transaction of $201,520.00. Following the acquisition, the director now directly owns 25,840 shares of the company’s stock, valued at approximately $1,301,819.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Bakker Juliet Tammenoms acquired 4,000 shares of the stock in a transaction dated Monday, February 12th. The stock was purchased at an average cost of $50.38 per share, with a total value of $201,520.00. Following the completion of the purchase, the director now owns 25,840 shares in the company, valued at approximately $1,301,819.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $56.37, for a total value of $563,700.00. Following the completion of the sale, the chief financial officer now directly owns 13,691 shares in the company, valued at $771,761.67. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,365 shares of company stock valued at $5,020,520. Corporate insiders own 21.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. RiverPark Advisors LLC lifted its holdings in RxSight by 70.0% in the fourth quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock worth $27,000 after buying an additional 275 shares during the period. Larson Financial Group LLC bought a new position in RxSight in the first quarter worth $51,000. Amalgamated Bank lifted its position in RxSight by 7.7% during the fourth quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock valued at $167,000 after buying an additional 298 shares during the period. Clear Rock Advisors LLC purchased a new stake in shares of RxSight in the 4th quarter worth about $172,000. Finally, Clarus Group Inc. purchased a new position in RxSight during the 4th quarter valued at about $202,000. 78.78% of the stock is currently owned by 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.