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

Needham & Company LLC reiterated their buy rating on shares of RxSight (NASDAQ:RXST) in a research note released on Friday, Benzinga reports. They currently have a $66.00 target price on the stock.

A number of other research firms also recently issued reports on RXST. Stifel Nicolaus dropped their price objective on shares of RxSight from $70.00 to $65.00 and set a buy rating on the stock in a research note on Tuesday, August 6th. BTIG Research lifted their price target on RxSight from $72.00 to $73.00 and gave the company a buy rating in a report on Monday, July 15th. Wells Fargo & Company decreased their price objective on RxSight from $68.00 to $54.00 and set an overweight rating for the company in a research note on Tuesday, August 6th. Finally, Oppenheimer cut their target price on RxSight from $72.00 to $65.00 and set an outperform rating on the stock in a research note on Tuesday, August 6th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, RxSight has a consensus rating of Buy and a consensus target price of $60.14.

RxSight Stock Up 0.8 %

RXST opened at $54.96 on Friday. The stock’s fifty day moving average is $50.78 and its two-hundred day moving average is $54.01. The company has a market capitalization of $2.03 billion, a P/E ratio of -43.62 and a beta of 1.22. RxSight has a 52 week low of $20.66 and a 52 week high of $66.54.

RxSight (NASDAQ:RXST) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.06. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The firm had revenue of $34.89 million for the quarter, compared to analyst estimates of $32.33 million. During the same quarter last year, the firm posted ($0.40) earnings per share. The business’s revenue for the quarter was up 67.6% on a year-over-year basis. Equities analysts anticipate that RxSight will post -0.81 earnings per share for the current year.

Insider Activity at RxSight

In other RxSight news, insider Ilya Goldshleger sold 9,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $39.25, for a total value of $353,250.00. Following the completion of the sale, the insider now owns 42,246 shares of the company’s stock, valued at $1,658,155.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Ilya Goldshleger sold 9,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $39.25, for a total value of $353,250.00. Following the completion of the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $1,658,155.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $58.61, for a total transaction of $586,100.00. Following the sale, the chief financial officer now directly owns 13,938 shares in the company, valued at approximately $816,906.18. The disclosure for this sale can be found here. 9.36% of the stock is currently owned by corporate insiders.

Institutional Trading of RxSight

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of RxSight by 727.5% in the second quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after purchasing an additional 371 shares during the last quarter. Quest Partners LLC acquired a new stake in RxSight during the 2nd quarter valued at approximately $41,000. Larson Financial Group LLC acquired a new stake in RxSight during the 1st quarter valued at approximately $51,000. Amalgamated Bank boosted its holdings in shares of RxSight by 21.3% in the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after acquiring an additional 207 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of RxSight in the second quarter worth $156,000. 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.