RxSight (NASDAQ:RXST) Given New $75.00 Price Target at Needham & Company LLC

RxSight (NASDAQ:RXST) had its price objective increased by Needham & Company LLC from $64.00 to $75.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also weighed in on RXST. Oppenheimer upped their price target on RxSight from $54.00 to $61.00 and gave the company an outperform rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. increased their price target on shares of RxSight from $40.00 to $62.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. BTIG Research boosted their target price on RxSight from $61.00 to $72.00 and gave the stock a buy rating in a report on Tuesday. Finally, Stifel Nicolaus upped their price target on RxSight from $64.00 to $68.00 and gave the company a buy rating in a research note on Monday. Seven research 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 target price of $60.63.

RxSight Trading Down 1.0 %

RXST stock opened at $62.19 on Tuesday. The stock’s 50 day simple moving average is $52.86 and its 200 day simple moving average is $43.32. RxSight has a 12-month low of $18.35 and a 12-month high of $66.54. The firm has a market cap of $2.30 billion, a P/E ratio of -43.49 and a beta of 1.21.

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

Insider Activity

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

Institutional Investors Weigh In On RxSight

A number of large investors have recently added to or reduced their stakes in the business. Inspire Investing LLC acquired a new stake in RxSight during the 1st quarter worth approximately $917,000. Swiss National Bank increased its position in RxSight by 16.2% during the first quarter. Swiss National Bank now owns 53,100 shares of the company’s stock worth $2,739,000 after acquiring an additional 7,400 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of RxSight during the 1st quarter worth approximately $364,000. Quantbot Technologies LP increased its holdings in shares of RxSight by 8.4% during the first quarter. Quantbot Technologies LP now owns 53,686 shares of the company’s stock worth $2,769,000 after purchasing an additional 4,167 shares during the period. Finally, Larson Financial Group LLC bought a new stake in shares of RxSight in the first quarter valued at approximately $51,000. Institutional investors 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.