RxSight (NASDAQ:RXST) Reaches New 1-Year High at $59.16

RxSight, Inc. (NASDAQ:RXST) reached a new 52-week high on Thursday . The company traded as high as $59.16 and last traded at $58.67, with a volume of 94115 shares changing hands. The stock had previously closed at $56.70.

Analysts Set New Price Targets

Several research analysts have commented on RXST shares. Oppenheimer lifted their target price on RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Stifel Nicolaus upped their target price on RxSight from $54.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and set a $64.00 target price on shares of RxSight in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $49.63.

RxSight Stock Up 3.4 %

The firm’s 50 day simple moving average is $52.73 and its two-hundred day simple moving average is $42.81. The stock has a market capitalization of $2.28 billion, a P/E ratio of -43.13 and a beta of 1.21.

RxSight (NASDAQ:RXST) last issued its earnings results on Wednesday, February 28th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $28.60 million. As a group, equities research analysts expect that RxSight, Inc. will post -0.94 earnings per share for the current year.

Insider Activity

In related news, CFO Shelley B. Thunen sold 20,000 shares of the 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 transaction, the chief financial officer now directly owns 8,402 shares in the company, valued at approximately $419,259.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other RxSight news, CFO Shelley B. Thunen sold 9,125 shares of RxSight stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $47.02, for a total transaction of $429,057.50. Following the completion of the transaction, the chief financial officer now owns 13,691 shares in the company, valued at approximately $643,750.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shelley B. Thunen sold 20,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 8,402 shares of the company’s stock, valued at $419,259.80. The disclosure for this sale can be found here. Insiders sold a total of 59,490 shares of company stock worth $3,043,578 over the last quarter. 21.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RxSight

Several institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC bought a new position in RxSight during the 1st quarter valued at $51,000. GSA Capital Partners LLP purchased a new stake in shares of RxSight in the first quarter valued at about $1,929,000. RiverPark Advisors LLC lifted its position in shares of RxSight by 361.4% during the first quarter. RiverPark Advisors LLC now owns 3,082 shares of the company’s stock valued at $159,000 after purchasing an additional 2,414 shares in the last quarter. FORA Capital LLC boosted its holdings in RxSight by 5.6% during the first quarter. FORA Capital LLC now owns 11,695 shares of the company’s stock worth $603,000 after purchasing an additional 622 shares during the last quarter. Finally, Capstone Investment Advisors LLC grew its position in RxSight by 698.4% in the 1st quarter. Capstone Investment Advisors LLC now owns 127,200 shares of the company’s stock worth $6,561,000 after purchasing an additional 111,269 shares in the last quarter. 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.