Oppenheimer Lowers RxSight (NASDAQ:RXST) Price Target to $65.00

RxSight (NASDAQ:RXST) had its price target trimmed by Oppenheimer from $72.00 to $65.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also recently commented on RXST. Wells Fargo & Company increased their price objective on RxSight from $61.00 to $68.00 and gave the company an overweight rating in a research report on Tuesday, May 7th. Stifel Nicolaus lowered their target price on RxSight from $75.00 to $70.00 and set a buy rating on the stock in a report on Wednesday, July 10th. Needham & Company LLC increased their target price on RxSight from $64.00 to $75.00 and gave the company a buy rating in a report on Tuesday, May 7th. Finally, BTIG Research increased their target price on RxSight from $72.00 to $73.00 and gave the company a buy rating in a report on Monday, July 15th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, RxSight currently has an average rating of Buy and a consensus price target of $58.43.

RxSight Stock Up 2.8 %

Shares of NASDAQ RXST traded up $1.38 during trading on Tuesday, reaching $50.73. The company had a trading volume of 638,314 shares, compared to its average volume of 839,183. RxSight has a 12-month low of $20.66 and a 12-month high of $66.54. The stock has a market cap of $1.88 billion, a PE ratio of -40.26 and a beta of 1.19. The business’s 50-day moving average is $52.53 and its 200 day moving average is $53.39.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.06. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The company had revenue of $34.89 million for the quarter, compared to analysts’ expectations of $32.33 million. During the same period last year, the firm posted ($0.40) earnings per share. RxSight’s revenue was up 67.6% compared to the same quarter last year. On average, analysts anticipate that RxSight will post -0.75 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Ilya Goldshleger sold 9,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $39.25, for a total transaction of $353,250.00. Following the completion of the sale, the insider now owns 42,246 shares in the company, valued at $1,658,155.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other RxSight news, Director Julie Andrews sold 15,625 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $58.00, for a total transaction of $906,250.00. Following the completion of the transaction, 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 accessible through this link. Also, insider Ilya Goldshleger sold 9,000 shares of RxSight stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $39.25, for a total value of $353,250.00. Following the completion of the transaction, the insider now owns 42,246 shares of the company’s stock, valued at approximately $1,658,155.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,625 shares of company stock worth $1,845,600. 9.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RxSight

A number of institutional investors and hedge funds have recently modified their holdings of RXST. CWM LLC raised its position in RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after purchasing an additional 371 shares in the last quarter. Quest Partners LLC acquired a new position in shares of RxSight in the 2nd quarter valued at about $41,000. Larson Financial Group LLC acquired a new position in shares of RxSight in the 1st quarter valued at about $51,000. RiverPark Advisors LLC raised its holdings in RxSight by 361.4% in the 1st quarter. RiverPark Advisors LLC now owns 3,082 shares of the company’s stock worth $159,000 after purchasing an additional 2,414 shares during the period. Finally, Amalgamated Bank raised its holdings in RxSight by 7.7% in the 4th quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock worth $167,000 after purchasing an additional 298 shares during the period. Hedge funds and other 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.