RxSight (NASDAQ:RXST) Shares Gap Up – Should You Buy?

Shares of RxSight, Inc. (NASDAQ:RXST) gapped up before the market opened on Tuesday . The stock had previously closed at $24.76, but opened at $25.76. RxSight shares last traded at $25.17, with a volume of 11,146 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on RxSight from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reduced their target price on RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their price target on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price objective on shares of RxSight in a report on Wednesday, February 26th. Finally, UBS Group began coverage on shares of RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.63.

RxSight Trading Up 2.5 %

The stock has a market capitalization of $1.06 billion, a P/E ratio of -31.41 and a beta of 1.22. The firm’s fifty day moving average is $30.95 and its 200-day moving average is $41.52.

RxSight (NASDAQ:RXST) last posted its earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). The firm had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. Equities research analysts expect that RxSight, Inc. will post -0.7 EPS for the current year.

Insider Transactions at RxSight

In related news, Director Jesse Anderson Corley purchased 1,443 shares of RxSight stock in a transaction that occurred on Wednesday, January 15th. The shares were acquired at an average price of $31.18 per share, for a total transaction of $44,992.74. Following the transaction, the director now directly owns 1,443 shares in the company, valued at approximately $44,992.74. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Shweta Maniar sold 3,519 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total transaction of $108,631.53. Following the completion of the sale, the director now owns 7,383 shares of the company’s stock, valued at $227,913.21. The trade was a 32.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in shares of RxSight by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock valued at $1,782,000 after buying an additional 240 shares during the period. Quarry LP increased its position in RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after purchasing an additional 288 shares during the period. Mountain Capital Investment Advisors Inc. raised its holdings in RxSight by 3.8% during the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock worth $302,000 after purchasing an additional 320 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in RxSight by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock valued at $1,034,000 after purchasing an additional 399 shares during the period. Finally, Wells Fargo & Company MN lifted its position in RxSight by 1.7% during the 4th quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock valued at $914,000 after purchasing an additional 445 shares during the period. 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.