RxSight (NASDAQ:RXST) Shares Gap Down to $60.66

RxSight, Inc. (NASDAQ:RXST) shares gapped down prior to trading on Thursday . The stock had previously closed at $60.66, but opened at $57.77. RxSight shares last traded at $58.38, with a volume of 397,762 shares.

Wall Street Analysts Forecast Growth

RXST has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Needham & Company LLC increased their target price on RxSight from $64.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday. Oppenheimer raised their price objective on RxSight from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday. BTIG Research lifted their price objective on RxSight from $61.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company upped their price objective on RxSight from $61.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, RxSight has a consensus rating of “Buy” and a consensus target price of $60.63.

RxSight Stock Up 2.9 %

The firm has a 50 day simple moving average of $53.03 and a 200-day simple moving average of $43.71. The company has a market cap of $2.31 billion, a PE ratio of -42.42 and a beta of 1.21.

RxSight (NASDAQ:RXST) last issued its earnings results on Monday, May 6th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). The company had revenue of $29.51 million during the quarter, compared to analysts’ expectations of $27.56 million. RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. The firm’s quarterly revenue was up 68.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.42) EPS. As a group, equities analysts anticipate that RxSight, Inc. will post -0.94 EPS for the current year.

Insider Activity at RxSight

In other news, CFO Shelley B. Thunen sold 10,000 shares of RxSight stock in a transaction on Friday, March 1st. The stock was sold at an average price of $56.37, for a total value of $563,700.00. Following the completion of the sale, the chief financial officer now directly owns 13,691 shares of the company’s stock, valued at $771,761.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 10,000 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 13,691 shares of the company’s stock, valued at $771,761.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,365 shares of company stock valued at $5,020,520. 21.13% of the stock is currently owned by insiders.

Institutional Trading of RxSight

Several institutional investors have recently modified their holdings of RXST. Artisan Partners Limited Partnership lifted its position in shares of RxSight by 17.3% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,437,765 shares of the company’s stock worth $67,989,000 after buying an additional 359,295 shares during the last quarter. Vanguard Group Inc. raised its position in RxSight by 21.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,433,953 shares of the company’s stock valued at $39,993,000 after purchasing an additional 255,150 shares during the last quarter. Great Lakes Advisors LLC purchased a new stake in RxSight in the 4th quarter valued at $8,226,000. Lord Abbett & CO. LLC raised its position in RxSight by 13.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,628,320 shares of the company’s stock valued at $45,414,000 after purchasing an additional 197,099 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in RxSight by 263.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 243,346 shares of the company’s stock valued at $6,787,000 after purchasing an additional 176,451 shares during the last quarter. 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.