RxSight, Inc. (NASDAQ:RXST) Receives $59.00 Consensus PT from Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com 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 analysts that have issued ratings on the stock in the last year is $59.00.

RXST has been the subject of a number of analyst reports. Stifel Nicolaus lowered RxSight from a “buy” rating to a “hold” rating and cut their price target for the stock from $65.00 to $40.00 in a report on Friday, December 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of RxSight in a report on Friday, September 13th. UBS Group initiated coverage on shares of RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective for the company. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $42.00 target price (down from $56.00) on shares of RxSight in a research note on Wednesday, December 11th.

Insider Buying and Selling at RxSight

In other news, insider Ilya Goldshleger sold 3,100 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $49.02, for a total transaction of $151,962.00. Following the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $2,070,898.92. This represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jesse Anderson Corley bought 11,111 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average price of $45.37 per share, with a total value of $504,106.07. Following the transaction, the director now directly owns 468,571 shares in the company, valued at $21,259,066.27. The trade was a 2.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 56,502 shares of company stock worth $2,721,063 over the last three months. 9.36% of the stock is owned by insiders.

Institutional Investors Weigh In On RxSight

Institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its stake in RxSight by 854.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after purchasing an additional 521 shares during the period. Quarry LP increased its stake in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after buying an additional 288 shares during the period. Point72 Hong Kong Ltd bought a new stake in RxSight during the 3rd quarter valued at $34,000. Quest Partners LLC purchased a new stake in RxSight during the 2nd quarter valued at $41,000. Finally, KBC Group NV grew its holdings in RxSight by 63.6% in the 3rd quarter. KBC Group NV now owns 1,232 shares of the company’s stock worth $61,000 after acquiring an additional 479 shares during the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Trading Up 1.7 %

RXST opened at $35.05 on Friday. RxSight has a 12 month low of $33.03 and a 12 month high of $66.54. The company has a market cap of $1.41 billion, a PE ratio of -42.23 and a beta of 1.11. The company has a 50 day moving average of $44.51 and a 200 day moving average of $49.45.

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.