RxSight, Inc. (NASDAQ:RXST) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) have received an average recommendation of "Buy" from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $61.63.

RXST has been the topic of several analyst reports. Stifel Nicolaus dropped their target price on shares of RxSight from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. BTIG Research increased their target price on RxSight from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, July 15th. Jefferies Financial Group started coverage on RxSight in a research note on Tuesday. They issued a "buy" rating and a $72.00 price target for the company. Oppenheimer reduced their price objective on RxSight from $72.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, August 6th. Finally, Needham & Company LLC restated a "buy" rating and set a $66.00 target price on shares of RxSight in a research note on Friday, September 13th.

Insider Buying and Selling at RxSight

In other RxSight news, insider Ilya Goldshleger sold 3,100 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $53.19, for a total transaction of $164,889.00. Following the completion of the sale, the insider now directly owns 42,246 shares of the company's stock, valued at approximately $2,247,064.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 52,415 shares of company stock worth $2,532,097 in the last three months. 9.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new stake in RxSight in the 2nd quarter worth $19,512,000. Driehaus Capital Management LLC grew its position in shares of RxSight by 74.9% during the second quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company's stock worth $42,490,000 after purchasing an additional 302,367 shares in the last quarter. Baillie Gifford & Co. raised its stake in RxSight by 438.8% during the 2nd quarter. Baillie Gifford & Co. now owns 358,215 shares of the company's stock valued at $21,554,000 after purchasing an additional 291,733 shares during the period. William Blair Investment Management LLC purchased a new position in RxSight in the 2nd quarter worth approximately $14,942,000. Finally, M&G Plc bought a new position in RxSight in the 1st quarter worth approximately $7,354,000. 78.78% of the stock is owned by hedge funds and other institutional investors.

RxSight Trading Up 0.9 %

NASDAQ:RXST traded up $0.44 during trading hours on Friday, reaching $51.10. 505,665 shares of the company traded hands, compared to its average volume of 315,592. The business's 50-day moving average price is $51.65 and its two-hundred day moving average price is $53.59. RxSight has a 1 year low of $22.60 and a 1 year high of $66.54. The stock has a market capitalization of $1.89 billion, a P/E ratio of -50.10 and a beta of 1.19.

RxSight (NASDAQ:RXST - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.06. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The firm had revenue of $34.89 million during the quarter, compared to analyst estimates of $32.33 million. During the same quarter in the previous year, the firm earned ($0.40) EPS. RxSight's quarterly revenue was up 67.6% compared to the same quarter last year. As a group, equities analysts anticipate that RxSight will post -0.81 EPS for the current year.

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.