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

RxSight (NASDAQ:RXST) had its price target raised by Wells Fargo & Company from $61.00 to $68.00 in a research note released on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

RXST has been the topic of a number of other research reports. Needham & Company LLC raised their price target on RxSight from $64.00 to $75.00 and gave the stock a buy rating in a research note on Tuesday. BTIG Research lifted 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. Stifel Nicolaus increased their price target on shares of RxSight from $64.00 to $68.00 and gave the stock a buy rating in a research note on Monday. JPMorgan Chase & Co. lifted 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. Finally, Oppenheimer increased their target price on shares of RxSight from $61.00 to $72.00 and gave the stock an outperform rating in a research note on Tuesday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $60.63.

RxSight Stock Performance

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

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 company had revenue of $29.51 million during the quarter, compared to analysts’ expectations of $27.56 million. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The business’s revenue for the quarter was up 68.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.42) earnings per share. As a group, analysts predict that RxSight will post -0.94 earnings per share for the current fiscal year.

Insider Transactions at RxSight

In related news, CEO Ronald M. Md Kurtz sold 40,000 shares of RxSight stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the completion of the sale, the chief executive officer now owns 764,610 shares in the company, valued at approximately $45,991,291.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Shelley B. Thunen sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $49.90, for a total transaction of $998,000.00. Following the sale, the chief financial officer now owns 8,402 shares in the company, valued at $419,259.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 764,610 shares of the company’s stock, valued at $45,991,291.50. The disclosure for this sale can be found here. Insiders sold a total of 90,365 shares of company stock valued at $5,020,520 over the last three months. 21.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RxSight

Several institutional investors have recently added to or reduced their stakes in the business. RiverPark Advisors LLC increased 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 valued at $27,000 after acquiring an additional 275 shares during the last quarter. Amalgamated Bank increased 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 purchasing an additional 298 shares during the last quarter. FORA Capital LLC raised its stake in RxSight by 5.6% during the first quarter. FORA Capital LLC now owns 11,695 shares of the company’s stock worth $603,000 after purchasing an additional 622 shares during the period. HighTower Advisors LLC boosted its holdings in shares of RxSight by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 13,256 shares of the company’s stock valued at $369,000 after purchasing an additional 899 shares during the last quarter. Finally, Larson Financial Group LLC purchased a new stake in shares of RxSight during the 1st quarter valued at $51,000. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.