RxSight (NASDAQ:RXST) Shares Gap Up to $40.78

RxSight, Inc. (NASDAQ:RXST) shares gapped up prior to trading on Tuesday . The stock had previously closed at $40.78, but opened at $50.41. RxSight shares last traded at $47.02, with a volume of 256,476 shares traded.

Analyst Ratings Changes

Several brokerages have recently commented on RXST. Needham & Company LLC decreased their price objective on shares of RxSight from $75.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday. Stifel Nicolaus lowered their price objective on RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday. BTIG Research increased their target price on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Wells Fargo & Company decreased their target price on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Oppenheimer dropped their price target on RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, RxSight currently has a consensus rating of “Buy” and an average price target of $58.43.

RxSight Stock Up 19.4 %

The company has a fifty day moving average price of $53.44 and a 200-day moving average price of $53.43. The stock has a market capitalization of $1.80 billion, a P/E ratio of -39.68 and a beta of 1.19.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). RxSight had a negative return on equity of 27.68% and a negative net margin of 44.01%. The firm had revenue of $34.89 million for the quarter, compared to analysts’ expectations of $32.33 million. During the same period last year, the company earned ($0.40) earnings per share. The firm’s revenue was up 67.6% on a year-over-year basis. As a group, research analysts expect that RxSight, Inc. will post -0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RxSight news, 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 of the company’s stock, valued at $816,906.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Julie Andrews sold 15,625 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $58.00, for a total value of $906,250.00. Following the completion of the sale, the director now owns 30,287 shares in the company, valued at approximately $1,756,646. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Shelley B. Thunen sold 10,000 shares of RxSight stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $58.61, for a total transaction of $586,100.00. Following the transaction, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at $816,906.18. The disclosure for this sale can be found here. Corporate insiders own 9.36% of the company’s stock.

Institutional Trading of RxSight

Several institutional investors and hedge funds have recently made changes to their positions in RXST. Arizona State Retirement System boosted its holdings in shares of RxSight by 5.0% in the second quarter. Arizona State Retirement System now owns 7,765 shares of the company’s stock valued at $467,000 after purchasing an additional 373 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of RxSight by 21.7% in the 2nd quarter. Victory Capital Management Inc. now owns 214,703 shares of the company’s stock worth $12,919,000 after buying an additional 38,349 shares during the period. Rhumbline Advisers lifted its holdings in shares of RxSight by 22.2% in the 2nd quarter. Rhumbline Advisers now owns 47,465 shares of the company’s stock worth $2,856,000 after buying an additional 8,632 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of RxSight by 3.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,861 shares of the company’s stock worth $473,000 after buying an additional 242 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of RxSight by 2.5% during the second quarter. Principal Financial Group Inc. now owns 35,806 shares of the company’s stock valued at $2,154,000 after buying an additional 878 shares during the period. 78.78% of the stock is currently owned by institutional investors.

RxSight Company Profile

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.