Oppenheimer Boosts RxSight (NASDAQ:RXST) Price Target to $72.00

RxSight (NASDAQ:RXST) had its price objective hoisted by Oppenheimer from $61.00 to $72.00 in a research note released on Tuesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

RXST has been the topic of a number of other reports. Needham & Company LLC raised their price target on shares of RxSight from $64.00 to $75.00 and gave the company a buy rating in a research report on Tuesday. BTIG Research boosted their target price on RxSight from $61.00 to $72.00 and gave the stock a buy rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on RxSight from $40.00 to $62.00 and gave the company an overweight rating in a research report on Thursday, February 29th. Finally, Stifel Nicolaus boosted their price objective on RxSight from $64.00 to $68.00 and gave the stock a buy rating in a research report on Monday. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, RxSight has a consensus rating of Buy and a consensus price target of $60.63.

RxSight Price Performance

Shares of RxSight stock opened at $62.19 on Tuesday. The business has a 50-day simple moving average of $52.86 and a 200 day simple moving average of $43.32. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -43.49 and a beta of 1.21. RxSight has a one year low of $18.35 and a one year high of $66.54.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The business had revenue of $29.51 million during the quarter, compared to the consensus estimate of $27.56 million. During the same period last year, the business posted ($0.42) earnings per share. The firm’s quarterly revenue was up 68.7% on a year-over-year basis. On average, sell-side analysts expect that RxSight will post -0.94 EPS for the current year.

Insider Activity

In related news, COO Ilya Goldshleger sold 10,365 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $50.74, for a total transaction of $525,920.10. Following the sale, the chief operating officer now directly owns 26,475 shares in the company, valued at approximately $1,343,341.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other RxSight news, COO Ilya Goldshleger sold 10,365 shares of RxSight stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $50.74, for a total transaction of $525,920.10. Following the completion of the transaction, the chief operating officer now owns 26,475 shares of the company’s stock, valued at approximately $1,343,341.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the completion of the sale, the chief executive officer now directly owns 764,610 shares in the company, valued at $45,991,291.50. The disclosure for this sale can be found here. Insiders have sold 90,365 shares of company stock valued at $5,020,520 in the last 90 days. Insiders own 21.13% of the company’s stock.

Institutional Trading of RxSight

A number of large investors have recently modified their holdings of RXST. RiverPark Advisors LLC raised its holdings in shares of RxSight by 70.0% during the 4th quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after buying an additional 275 shares in the last quarter. Amalgamated Bank lifted 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 worth $167,000 after acquiring an additional 298 shares during the last quarter. FORA Capital LLC grew its holdings in shares of RxSight by 5.6% during the 1st quarter. FORA Capital LLC now owns 11,695 shares of the company’s stock valued at $603,000 after purchasing an additional 622 shares during the last quarter. HighTower Advisors LLC raised its position in RxSight by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 13,256 shares of the company’s stock worth $369,000 after purchasing an additional 899 shares during the period. Finally, Larson Financial Group LLC bought a new stake in RxSight in the first quarter worth $51,000. Institutional investors 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.