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

Needham & Company LLC reiterated their buy rating on shares of RxSight (NASDAQ:RXST) in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a $64.00 price target on the stock.

A number of other brokerages have also weighed in on RXST. Stifel Nicolaus increased their target price on RxSight from $54.00 to $64.00 and gave the stock a buy rating in a research note on Thursday, February 29th. Wells Fargo & Company upgraded RxSight from an equal weight rating to an overweight rating and increased their target price for the stock from $31.00 to $42.00 in a research note on Wednesday, December 13th. Oppenheimer increased their target price on RxSight from $54.00 to $61.00 and gave the stock an outperform rating in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. increased their target price on RxSight from $40.00 to $62.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $49.63.

RxSight Stock Performance

Shares of RXST stock opened at $55.08 on Thursday. RxSight has a 52 week low of $17.00 and a 52 week high of $58.21. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -38.52 and a beta of 1.22. The company has a 50-day simple moving average of $52.07 and a 200 day simple moving average of $40.10.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.10. RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. The company had revenue of $28.58 million during the quarter, compared to analysts’ expectations of $28.60 million. Sell-side analysts forecast that RxSight will post -0.94 EPS for the current year.

Insider Buying and Selling

In related news, Director Bakker Juliet Tammenoms purchased 4,000 shares of RxSight stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average price of $50.38 per share, with a total value of $201,520.00. Following the completion of the transaction, the director now directly owns 25,840 shares of the company’s stock, valued at approximately $1,301,819.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other RxSight news, CFO Shelley B. Thunen sold 20,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $49.90, for a total value of $998,000.00. Following the sale, the chief financial officer now owns 8,402 shares of the company’s stock, valued at approximately $419,259.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bakker Juliet Tammenoms bought 4,000 shares of RxSight stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $50.38 per share, for a total transaction of $201,520.00. Following the acquisition, the director now owns 25,840 shares in the company, valued at approximately $1,301,819.20. The disclosure for this purchase can be found here. Insiders have sold 148,040 shares of company stock valued at $7,280,585 over the last 90 days. 21.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RxSight

A number of large investors have recently modified their holdings of the business. RiverPark Advisors LLC boosted its holdings in shares of RxSight by 70.0% in the 4th quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after purchasing an additional 275 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of RxSight by 7.7% in the 4th quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock valued at $167,000 after purchasing an additional 298 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of RxSight by 2.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 12,726 shares of the company’s stock valued at $513,000 after acquiring an additional 357 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of RxSight by 7.4% in the 1st quarter. California State Teachers Retirement System now owns 8,829 shares of the company’s stock valued at $147,000 after acquiring an additional 609 shares during the last quarter. Finally, American International Group Inc. lifted its stake in shares of RxSight by 4.5% in the 4th quarter. American International Group Inc. now owns 14,132 shares of the company’s stock valued at $570,000 after acquiring an additional 609 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

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.