Stifel Nicolaus Raises RxSight (NASDAQ:RXST) Price Target to $68.00

RxSight (NASDAQ:RXST) had its price objective lifted by equities researchers at Stifel Nicolaus from $64.00 to $68.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 8.26% from the stock’s previous close.

RXST has been the topic of a number of other reports. Oppenheimer lifted their price target on RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on shares of RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 target price on shares of RxSight in a report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, RxSight currently has an average rating of “Buy” and an average target price of $50.13.

RxSight Trading Up 1.8 %

RXST traded up $1.13 during midday trading on Monday, hitting $62.81. 356,536 shares of the company traded hands, compared to its average volume of 431,604. The business has a 50 day simple moving average of $52.73 and a two-hundred day simple moving average of $43.06. RxSight has a 52-week low of $18.35 and a 52-week high of $64.92. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -44.01 and a beta of 1.21.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.10. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The firm had revenue of $28.58 million during the quarter, compared to the consensus estimate of $28.60 million. Equities research analysts anticipate that RxSight will post -0.94 earnings per share for the current year.

Insider Activity at RxSight

In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $56.37, for a total value of $563,700.00. Following the transaction, the chief financial officer now directly owns 13,691 shares in the company, valued at $771,761.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Shelley B. Thunen sold 10,000 shares of RxSight stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $56.37, for a total transaction of $563,700.00. Following the sale, the chief financial officer now owns 13,691 shares in the company, valued at $771,761.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shelley B. Thunen sold 20,000 shares of the firm’s 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 transaction, the chief financial officer now owns 8,402 shares in the company, valued at approximately $419,259.80. The disclosure for this sale can be found here. Insiders have sold 50,365 shares of company stock valued at $2,614,520 over the last quarter. 21.13% of the stock is owned by insiders.

Hedge Funds Weigh In On RxSight

Several institutional investors have recently added to or reduced their stakes in RXST. Artisan Partners Limited Partnership raised its holdings in RxSight by 17.3% during the third quarter. Artisan Partners Limited Partnership now owns 2,437,765 shares of the company’s stock worth $67,989,000 after purchasing an additional 359,295 shares in the last quarter. Lord Abbett & CO. LLC raised its position in RxSight by 13.8% in the third quarter. Lord Abbett & CO. LLC now owns 1,628,320 shares of the company’s stock worth $45,414,000 after acquiring an additional 197,099 shares in the last quarter. Vanguard Group Inc. raised its position in RxSight by 21.6% in the third quarter. Vanguard Group Inc. now owns 1,433,953 shares of the company’s stock worth $39,993,000 after acquiring an additional 255,150 shares in the last quarter. Parkman Healthcare Partners LLC lifted its holdings in RxSight by 34.5% in the fourth quarter. Parkman Healthcare Partners LLC now owns 513,032 shares of the company’s stock valued at $20,685,000 after acquiring an additional 131,701 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of RxSight by 108.6% during the 4th quarter. Victory Capital Management Inc. now owns 256,684 shares of the company’s stock worth $10,349,000 after purchasing an additional 133,642 shares during the period. 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.