RxSight, Inc. (NASDAQ:RXST) Given Consensus Recommendation of “Buy” by Brokerages

RxSight, Inc. (NASDAQ:RXST) has earned an average rating of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $61.63.

A number of equities research analysts recently commented on the company. Stifel Nicolaus dropped their price objective on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company cut their price target on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Oppenheimer reduced their price objective on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Jefferies Financial Group started coverage on shares of RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $66.00 price target on shares of RxSight in a research report on Friday, September 13th.

Insider Buying and Selling

In other RxSight news, insider Ilya Goldshleger sold 1,330 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $46.13, for a total value of $61,352.90. Following the sale, the insider now owns 42,246 shares in the company, valued at approximately $1,948,807.98. The trade was a 3.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Shweta Maniar sold 3,782 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $45.88, for a total transaction of $173,518.16. Following the transaction, the director now directly owns 10,902 shares of the company’s stock, valued at $500,183.76. This represents a 25.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,702 shares of company stock worth $3,059,197 over the last ninety days. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RXST. RA Capital Management L.P. boosted its stake in shares of RxSight by 6.0% during the 3rd quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock worth $193,609,000 after buying an additional 222,000 shares during the last quarter. Vanguard Group Inc. boosted its position in RxSight by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company’s stock valued at $78,634,000 after purchasing an additional 40,500 shares during the last quarter. State Street Corp grew its stake in 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 purchasing an additional 62,349 shares in the last quarter. Geode Capital Management LLC grew its stake in RxSight by 17.7% in the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock valued at $40,398,000 after purchasing an additional 122,775 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its stake in shares of RxSight by 74.9% in the second quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock valued at $42,490,000 after buying an additional 302,367 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

RxSight Stock Performance

Shares of RxSight stock opened at $46.88 on Wednesday. The firm has a fifty day moving average of $48.58 and a two-hundred day moving average of $52.26. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -56.48 and a beta of 1.19. RxSight has a 52 week low of $28.88 and a 52 week high of $66.54.

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.