BTIG Research Raises RxSight (NASDAQ:RXST) Price Target to $72.00

RxSight (NASDAQ:RXST) had its target price hoisted by BTIG Research from $61.00 to $72.00 in a research report report published on Tuesday, MarketBeat reports. BTIG Research currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of RxSight from $40.00 to $62.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Needham & Company LLC reiterated a buy rating and issued a $64.00 price target on shares of RxSight in a report on Thursday, April 11th. Oppenheimer upped their price objective on RxSight from $54.00 to $61.00 and gave the stock an outperform rating in a research note on Thursday, February 29th. Finally, Stifel Nicolaus lifted their target price on RxSight from $64.00 to $68.00 and gave the company a buy rating in a research note on Monday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, RxSight has an average rating of Buy and an average target price of $60.63.

RxSight Trading Down 1.0 %

Shares of NASDAQ:RXST opened at $62.19 on Tuesday. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -43.49 and a beta of 1.21. RxSight has a 12 month low of $18.35 and a 12 month high of $66.54. The company has a 50-day moving average price of $52.86 and a 200 day moving average price of $43.32.

RxSight (NASDAQ:RXST) last announced its earnings results on Monday, May 6th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $29.51 million during the quarter, compared to analysts’ expectations of $27.56 million. During the same period in the prior year, the company posted ($0.42) EPS. The company’s revenue was up 68.7% compared to the same quarter last year. As a group, equities analysts forecast that RxSight will post -0.94 EPS for the current year.

Insider Buying and Selling at RxSight

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

Institutional Inflows and Outflows

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