RxSight, Inc. (NASDAQ:RXST) Given Average Rating of “Moderate Buy” by Brokerages

RxSight, Inc. (NASDAQ:RXST) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $59.00.

Several equities analysts recently commented on the company. Jefferies Financial Group began coverage on RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price for the company. Wells Fargo & Company restated an “equal weight” rating and issued a $42.00 target price (down previously from $56.00) on shares of RxSight in a research note on Wednesday, December 11th. Needham & Company LLC reiterated a “buy” rating and set a $66.00 target price on shares of RxSight in a research report on Friday, September 13th. UBS Group initiated coverage on shares of RxSight in a research report on Friday, December 6th. They issued a “buy” rating and a $52.00 price target on the stock. Finally, Stifel Nicolaus lowered shares of RxSight from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $65.00 to $40.00 in a report on Friday, December 20th.

Insider Transactions at RxSight

In other news, insider Ilya Goldshleger sold 3,100 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $45.00, for a total transaction of $139,500.00. Following the transaction, the insider now owns 42,246 shares of the company’s stock, valued at $1,901,070. This represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shweta Maniar sold 3,782 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value of $173,518.16. Following the completion of the transaction, the director now owns 10,902 shares in the company, valued at approximately $500,183.76. This represents a 25.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,502 shares of company stock worth $2,721,063. Corporate insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several large investors have recently bought and sold shares of RXST. Raymond James & Associates bought a new stake in shares of RxSight during the 2nd quarter valued at $3,549,000. Raymond James Trust N.A. bought a new position in RxSight during the second quarter worth about $207,000. Bank of New York Mellon Corp grew its position in shares of RxSight by 17.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 119,493 shares of the company’s stock worth $7,190,000 after buying an additional 17,368 shares during the period. Bailard Inc. bought a new stake in shares of RxSight in the 2nd quarter valued at about $247,000. Finally, RiverPark Advisors LLC raised its position in shares of RxSight by 9.6% in the 2nd quarter. RiverPark Advisors LLC now owns 3,379 shares of the company’s stock valued at $203,000 after acquiring an additional 297 shares during the period. 78.78% of the stock is currently owned by institutional investors and hedge funds.

RxSight Stock Down 2.4 %

NASDAQ:RXST opened at $34.22 on Friday. The firm has a 50-day moving average price of $44.19 and a 200 day moving average price of $49.22. The firm has a market capitalization of $1.38 billion, a PE ratio of -41.23 and a beta of 1.11. RxSight has a 12-month low of $33.03 and a 12-month high of $66.54.

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.