RxSight (NASDAQ:RXST) Given “Buy” Rating at Needham & Company LLC

RxSight (NASDAQ:RXST)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $43.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 47.21% from the stock’s current price.

Several other equities analysts have also weighed in on the company. Jefferies Financial Group started coverage on RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective for the company. Stifel Nicolaus cut their price target on RxSight from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company lowered their price objective on RxSight from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, UBS Group initiated coverage on shares of RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.25.

RxSight Stock Performance

NASDAQ:RXST opened at $29.21 on Wednesday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -35.19 and a beta of 1.19. The firm has a 50-day moving average price of $32.78 and a two-hundred day moving average price of $43.47. RxSight has a 52 week low of $26.29 and a 52 week high of $66.54.

RxSight (NASDAQ:RXST) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. As a group, sell-side analysts forecast that RxSight will post -0.7 earnings per share for the current year.

Insider Buying and Selling at RxSight

In other news, insider Ilya Goldshleger sold 3,105 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $46.08, for a total value of $143,078.40. Following the completion of the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $1,946,695.68. This represents a 6.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jesse Anderson Corley bought 1,443 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was purchased at an average price of $31.18 per share, with a total value of $44,992.74. Following the transaction, the director now directly owns 1,443 shares in the company, valued at $44,992.74. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RxSight

Several institutional investors and hedge funds have recently made changes to their positions in RXST. Nisa Investment Advisors LLC increased its holdings in shares of RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after buying an additional 521 shares during the period. Quarry LP boosted its stake in shares of RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of RxSight in the third quarter worth approximately $34,000. Private Trust Co. NA bought a new position in shares of RxSight in the fourth quarter worth approximately $34,000. Finally, State of Wyoming purchased a new position in shares of RxSight in the fourth quarter worth $37,000. 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.