Needham & Company LLC Reaffirms Buy Rating for RxSight (NASDAQ:RXST)

RxSight (NASDAQ:RXST)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They presently have a $66.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 97.43% from the company’s previous close.

Several other equities research analysts also recently issued reports on RXST. UBS Group started coverage on RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 price target for the company. Jefferies Financial Group began coverage on shares of RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price for the company. Stifel Nicolaus cut shares of RxSight from a “buy” rating to a “hold” rating and lowered their price target for the company from $65.00 to $40.00 in a report on Friday, December 20th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $42.00 price objective (down previously from $56.00) on shares of RxSight in a report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.00.

RxSight Stock Down 3.1 %

RXST opened at $33.43 on Monday. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -40.28 and a beta of 1.20. RxSight has a 12-month low of $32.85 and a 12-month high of $66.54. The business has a 50 day moving average of $41.02 and a 200-day moving average of $47.58.

Insiders Place Their Bets

In other RxSight news, Director Jesse Anderson Corley acquired 11,111 shares of RxSight stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average price of $45.37 per share, with a total value of $504,106.07. Following the completion of the purchase, the director now directly owns 468,571 shares in the company, valued at $21,259,066.27. This trade represents a 2.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ilya Goldshleger sold 3,105 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $46.08, for a total value of $143,078.40. Following the completion of the sale, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $1,946,695.68. The trade was a 6.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,002 shares of company stock valued at $1,959,796. 9.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Brown Capital Management LLC bought a new position in RxSight in the third quarter worth approximately $26,813,000. Point72 Asset Management L.P. lifted its holdings in shares of RxSight by 610.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 446,976 shares of the company’s stock worth $22,094,000 after purchasing an additional 384,041 shares in the last quarter. Marshall Wace LLP acquired a new stake in RxSight in the 2nd quarter valued at $19,512,000. Driehaus Capital Management LLC increased its stake in RxSight by 74.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock valued at $42,490,000 after purchasing an additional 302,367 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in RxSight during the second quarter worth $14,942,000. 78.78% of the stock is owned by institutional investors.

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.