RxSight (NASDAQ:RXST) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of RxSight (NASDAQ:RXST - Free Report) in a research report released on Thursday, Benzinga reports. Needham & Company LLC currently has a $64.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of RxSight from $40.00 to $62.00 and gave the company an overweight rating in a report on Thursday, February 29th. Stifel Nicolaus lifted their target price on shares of RxSight from $54.00 to $64.00 and gave the company a buy rating in a report on Thursday, February 29th. Wells Fargo & Company raised shares of RxSight from an equal weight rating to an overweight rating and lifted their target price for the company from $31.00 to $42.00 in a report on Wednesday, December 13th. Finally, Oppenheimer lifted their target price on shares of RxSight from $54.00 to $61.00 and gave the company an outperform rating in a report on Thursday, February 29th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $49.63.

RxSight Stock Up 4.9 %

Shares of RXST traded up $2.59 during trading on Thursday, reaching $55.31. 206,905 shares of the company traded hands, compared to its average volume of 446,636. RxSight has a twelve month low of $17.00 and a twelve month high of $58.21. The stock has a market cap of $2.05 billion, a PE ratio of -38.68 and a beta of 1.22. The stock has a 50-day simple moving average of $51.91 and a 200-day simple moving average of $39.72.

RxSight (NASDAQ:RXST - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.10. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The business had revenue of $28.58 million during the quarter, compared to analyst estimates of $28.60 million. On average, equities research analysts predict that RxSight will post -0.94 EPS for the current year.

Insider Buying and Selling at RxSight

In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $56.37, for a total value of $563,700.00. Following the transaction, the chief financial officer now directly 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 is available through the SEC website. In other news, CFO Shelley B. Thunen sold 10,000 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $56.37, for a total transaction of $563,700.00. Following the completion of 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 filing with the SEC, which is available at this hyperlink. Also, CFO Shelley B. Thunen sold 20,000 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $49.90, for a total transaction of $998,000.00. Following the transaction, the chief financial officer now directly owns 8,402 shares of the company's stock, valued at approximately $419,259.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,040 shares of company stock worth $7,280,585. Corporate insiders own 21.13% of the company's stock.

Institutional Investors Weigh In On RxSight

Several large investors have recently made changes to their positions in RXST. RiverPark Advisors LLC grew its position in RxSight by 70.0% in the fourth 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 period. Steward Partners Investment Advisory LLC bought a new stake in RxSight during the fourth quarter worth about $27,000. BluePath Capital Management LLC bought a new stake in RxSight during the third quarter worth about $32,000. UBS Group AG lifted its position in RxSight by 413.6% during the fourth quarter. UBS Group AG now owns 5,388 shares of the company's stock worth $68,000 after purchasing an additional 4,339 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in RxSight during the third quarter worth about $69,000. 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.