Analysts Set RxSight, Inc. (NASDAQ:RXST) Target Price at $37.90

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) have earned a consensus recommendation of "Hold" from the ten research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $37.90.

Several research analysts have weighed in on RXST shares. Needham & Company LLC reiterated a "buy" rating and issued a $43.00 price target on shares of RxSight in a research report on Thursday, April 3rd. Stifel Nicolaus reduced their price objective on RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research note on Wednesday, March 19th. UBS Group cut RxSight from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $45.00 to $16.00 in a report on Wednesday, April 9th. Wells Fargo & Company raised RxSight from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $17.00 to $25.00 in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and issued a $17.00 price target (down previously from $40.00) on shares of RxSight in a research report on Friday, April 4th.

RxSight Price Performance

RxSight stock traded down $0.21 during mid-day trading on Wednesday, reaching $15.68. 670,247 shares of the stock traded hands, compared to its average volume of 689,322. RxSight has a 12-month low of $12.53 and a 12-month high of $62.50. The business's 50-day moving average is $16.92 and its 200-day moving average is $28.48. The stock has a market capitalization of $637.19 million, a PE ratio of -18.89 and a beta of 1.32.

RxSight (NASDAQ:RXST - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $37.90 million during the quarter, compared to analyst estimates of $38.74 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The business's revenue for the quarter was up 28.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.25) EPS. Equities analysts anticipate that RxSight will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Tamara Fountain sold 7,000 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total value of $179,970.00. Following the transaction, the director now owns 24,793 shares of the company's stock, valued at approximately $637,428.03. The trade was a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.36% of the stock is currently owned by company insiders.

Institutional Trading of RxSight

A number of institutional investors and hedge funds have recently bought and sold shares of RXST. T. Rowe Price Investment Management Inc. grew its position in shares of RxSight by 885.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 719,818 shares of the company's stock valued at $18,176,000 after purchasing an additional 646,791 shares in the last quarter. Royal Bank of Canada grew its holdings in RxSight by 3,094.6% during the 4th quarter. Royal Bank of Canada now owns 508,491 shares of the company's stock valued at $17,481,000 after buying an additional 492,574 shares in the last quarter. DF Dent & Co. Inc. purchased a new position in RxSight during the 4th quarter valued at approximately $14,524,000. Bank of America Corp DE increased its stake in RxSight by 23.7% in the 4th quarter. Bank of America Corp DE now owns 2,159,923 shares of the company's stock worth $74,258,000 after acquiring an additional 413,737 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in shares of RxSight by 32.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company's stock worth $53,345,000 after acquiring an additional 381,389 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors.

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.