Stifel Nicolaus Lowers RxSight (NASDAQ:RXST) Price Target to $70.00

RxSight (NASDAQ:RXST) had its target price dropped by investment analysts at Stifel Nicolaus from $75.00 to $70.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 40.62% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Needham & Company LLC increased their price objective on RxSight from $64.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Oppenheimer raised their price target on shares of RxSight from $61.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Wells Fargo & Company lifted their price objective on shares of RxSight from $61.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. 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 report on Tuesday, May 7th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $65.00.

RxSight Stock Down 2.6 %

RXST stock opened at $49.78 on Wednesday. The company has a 50 day moving average of $58.68 and a two-hundred day moving average of $52.82. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -39.51 and a beta of 1.20. RxSight has a 12-month low of $20.66 and a 12-month high of $66.54.

RxSight (NASDAQ:RXST) last announced its quarterly earnings data on Monday, May 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.08). RxSight had a negative return on equity of 27.68% and a negative net margin of 44.01%. The firm had revenue of $29.51 million for the quarter, compared to analysts’ expectations of $27.56 million. During the same quarter in the prior year, the business posted ($0.42) earnings per share. RxSight’s revenue was up 68.7% on a year-over-year basis. On average, research analysts anticipate that RxSight will post -0.77 EPS for the current year.

Insider Buying and Selling at RxSight

In related news, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $52.69, for a total transaction of $526,900.00. Following the completion of the transaction, the chief financial officer now owns 13,938 shares of the company’s stock, valued at approximately $734,393.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $52.69, for a total value of $526,900.00. Following the sale, the chief financial officer now owns 13,938 shares in the company, valued at $734,393.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Julie Andrews sold 15,625 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $58.00, for a total transaction of $906,250.00. Following the transaction, the director now owns 30,287 shares of the company’s stock, valued at $1,756,646. The disclosure for this sale can be found here. Insiders sold 75,625 shares of company stock worth $4,425,250 over the last ninety days. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of RxSight by 21.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,433,953 shares of the company’s stock worth $39,993,000 after acquiring an additional 255,150 shares during the period. Grey Street Capital LLC bought a new stake in RxSight in the 4th quarter valued at $765,000. RiverPark Advisors LLC raised its stake in shares of RxSight by 70.0% in the 4th quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after buying an additional 275 shares in the last quarter. Legato Capital Management LLC lifted its holdings in shares of RxSight by 57.2% during the 4th quarter. Legato Capital Management LLC now owns 20,320 shares of the company’s stock worth $819,000 after acquiring an additional 7,395 shares during the period. Finally, Arizona State Retirement System bought a new position in shares of RxSight during the 4th quarter worth about $261,000. 78.78% of the stock is owned by institutional investors and hedge funds.

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.