RxSight (NASDAQ:RXST) Sets New 52-Week High at $59.16

Shares of RxSight, Inc. (NASDAQ:RXST) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $59.16 and last traded at $58.67, with a volume of 94115 shares changing hands. The stock had previously closed at $56.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RXST shares. Oppenheimer upped their price target on RxSight from $54.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. upped their price target on RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and set a $64.00 price target on shares of RxSight in a research note on Thursday, April 11th. Finally, Stifel Nicolaus upped their price target on RxSight from $54.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Six 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 price target of $49.63.

RxSight Price Performance

The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -41.10 and a beta of 1.21. The stock’s 50-day moving average is $52.51 and its 200 day moving average is $42.44.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The company had revenue of $28.58 million during the quarter, compared to the consensus estimate of $28.60 million. Analysts anticipate that RxSight, Inc. will post -0.94 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Shelley B. Thunen sold 9,125 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $47.02, for a total value of $429,057.50. Following the sale, the chief financial officer now owns 13,691 shares in the company, valued at approximately $643,750.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, 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 sale, the chief financial officer now directly owns 13,691 shares of the company’s stock, valued at approximately $771,761.67. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Shelley B. Thunen sold 9,125 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $47.02, for a total transaction of $429,057.50. Following the completion of the sale, the chief financial officer now directly owns 13,691 shares of the company’s stock, valued at $643,750.82. The disclosure for this sale can be found here. Insiders have sold 49,490 shares of company stock worth $2,516,678 in the last quarter. 21.13% of the stock is owned by corporate insiders.

Institutional Trading of RxSight

Several institutional investors and hedge funds have recently added to or reduced their stakes in RXST. SG Americas Securities LLC lifted its stake in RxSight by 95.6% during the third quarter. SG Americas Securities LLC now owns 9,970 shares of the company’s stock valued at $278,000 after purchasing an additional 4,873 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of RxSight by 3.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 106,203 shares of the company’s stock worth $2,962,000 after purchasing an additional 3,132 shares during the last quarter. BluePath Capital Management LLC bought a new position in RxSight in the 3rd quarter worth $32,000. TD Asset Management Inc acquired a new stake in RxSight in the 3rd quarter worth $293,000. Finally, Allspring Global Investments Holdings LLC grew 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 worth $6,787,000 after purchasing an additional 176,451 shares during the last quarter. 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.