RxSight, Inc. (NASDAQ:RXST) Receives $58.13 Average PT from Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $58.13.

A number of research analysts recently issued reports on RXST shares. Wells Fargo & Company decreased their price target on shares of RxSight from $42.00 to $40.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Needham & Company LLC reissued a "buy" rating and set a $66.00 price objective on shares of RxSight in a report on Monday, January 13th. Stifel Nicolaus cut their price objective on shares of RxSight from $40.00 to $35.00 and set a "hold" rating on the stock in a report on Monday, January 13th. UBS Group assumed coverage on shares of RxSight in a report on Friday, December 6th. They issued a "buy" rating and a $52.00 target price on the stock. Finally, Jefferies Financial Group started coverage on shares of RxSight in a report on Tuesday, October 29th. They issued a "buy" rating and a $72.00 target price on the stock.

Insider Buying and Selling

In related news, Director Shweta Maniar sold 3,782 shares of RxSight stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value of $173,518.16. Following the sale, the director now directly owns 10,902 shares in the company, valued at $500,183.76. This trade represents a 25.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ilya Goldshleger sold 4,875 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $46.00, for a total value of $224,250.00. Following the completion of the transaction, the insider now directly owns 42,246 shares of the company's stock, valued at $1,943,316. This trade represents a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,581 shares of company stock worth $1,070,706 over the last ninety days. 9.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of RxSight by 17.7% during the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company's stock valued at $40,398,000 after acquiring an additional 122,775 shares in the last quarter. Victory Capital Management Inc. grew its stake in RxSight by 21.0% in the 3rd quarter. Victory Capital Management Inc. now owns 259,864 shares of the company's stock valued at $12,845,000 after buying an additional 45,161 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of RxSight by 17.0% in the third quarter. Baillie Gifford & Co. now owns 419,004 shares of the company's stock valued at $20,711,000 after purchasing an additional 60,789 shares during the last quarter. Barclays PLC increased its stake in shares of RxSight by 389.8% in the third quarter. Barclays PLC now owns 58,786 shares of the company's stock worth $2,906,000 after purchasing an additional 46,783 shares during the period. Finally, State Street Corp lifted its stake in shares of RxSight by 8.3% in the third quarter. State Street Corp now owns 817,671 shares of the company's stock valued at $40,417,000 after buying an additional 62,349 shares during the period. Institutional investors and hedge funds own 78.78% of the company's stock.

RxSight Stock Down 0.1 %

RxSight stock traded down $0.03 during trading on Monday, reaching $31.87. The stock had a trading volume of 402,220 shares, compared to its average volume of 620,246. RxSight has a 52-week low of $26.29 and a 52-week high of $66.54. The business has a 50 day moving average price of $34.17 and a 200 day moving average price of $44.37. The stock has a market cap of $1.28 billion, a PE ratio of -38.40 and a beta of 1.19.

About RxSight

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.