Wells Fargo & Company Boosts RxSight (NASDAQ:RXST) Price Target to $68.00

RxSight (NASDAQ:RXST) had its price objective upped by stock analysts at Wells Fargo & Company from $61.00 to $68.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 7.90% from the stock’s current price.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Oppenheimer lifted their target price on RxSight from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday. Stifel Nicolaus increased their price target on RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC boosted their price objective on shares of RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday. Finally, BTIG Research increased their target price on shares of RxSight from $61.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $60.63.

RxSight Trading Up 0.3 %

RXST stock traded up $0.18 during mid-day trading on Tuesday, reaching $63.02. The company’s stock had a trading volume of 300,511 shares, compared to its average volume of 432,584. The stock has a market cap of $2.33 billion, a PE ratio of -44.07 and a beta of 1.21. The company’s 50 day moving average is $52.86 and its two-hundred day moving average is $43.32. RxSight has a fifty-two week low of $18.35 and a fifty-two week high of $66.54.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. The company had revenue of $29.51 million for the quarter, compared to analyst estimates of $27.56 million. During the same period last year, the firm posted ($0.42) EPS. The business’s quarterly revenue was up 68.7% on a year-over-year basis. On average, analysts forecast that RxSight will post -0.94 earnings per share for the current fiscal year.

Insider Buying and Selling at RxSight

In other RxSight news, COO Ilya Goldshleger sold 10,365 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $50.74, for a total transaction of $525,920.10. Following the sale, the chief operating officer now owns 26,475 shares in the company, valued at approximately $1,343,341.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO Ilya Goldshleger sold 10,365 shares of RxSight stock in a transaction on Friday, February 9th. The shares were sold at an average price of $50.74, for a total transaction of $525,920.10. Following the completion of the sale, the chief operating officer now directly owns 26,475 shares of the company’s stock, valued at approximately $1,343,341.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Shelley B. Thunen sold 20,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were 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 owns 8,402 shares in the company, valued at $419,259.80. The disclosure for this sale can be found here. Insiders sold 90,365 shares of company stock valued at $5,020,520 in the last 90 days. Company insiders own 21.13% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several hedge funds have recently made changes to their positions in RXST. RiverPark Advisors LLC increased its position in RxSight by 70.0% during the fourth quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock worth $27,000 after buying an additional 275 shares during the period. Larson Financial Group LLC acquired a new position in RxSight in the first quarter valued at $51,000. Amalgamated Bank raised its holdings in shares of RxSight by 7.7% in the fourth quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock valued at $167,000 after buying an additional 298 shares during the last quarter. Clear Rock Advisors LLC acquired a new stake in shares of RxSight during the fourth quarter worth about $172,000. Finally, Clarus Group Inc. purchased a new position in shares of RxSight during the fourth quarter worth about $202,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

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.