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

RxSight, Inc. (NASDAQ:RXST)’s share price hit 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. The stock had previously closed at $56.70.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RXST shares. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price objective on shares of RxSight in a research note on Thursday, April 11th. Oppenheimer raised their price target on shares of RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Stifel Nicolaus raised their price target on shares of RxSight from $54.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $49.63.

RxSight Trading Up 4.4 %

The stock has a market capitalization of $2.20 billion, a PE ratio of -41.10 and a beta of 1.21. The stock’s fifty day simple moving average is $52.51 and its 200-day simple moving average is $42.44.

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

Insider Activity

In other news, CFO Shelley B. Thunen sold 20,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $49.90, for a total transaction of $998,000.00. Following the completion of the sale, the chief financial officer now owns 8,402 shares of the company’s stock, valued at $419,259.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other RxSight news, COO Ilya Goldshleger sold 10,365 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $50.74, for a total value of $525,920.10. Following the completion of the transaction, the chief operating officer now owns 26,475 shares in the company, valued at $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 20,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $49.90, for a total value of $998,000.00. Following the sale, the chief financial officer now directly owns 8,402 shares in the company, valued at $419,259.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,490 shares of company stock valued at $2,516,678. 21.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. 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 valued at $67,989,000 after buying an additional 359,295 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of RxSight by 21.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,433,953 shares of the company’s stock valued at $39,993,000 after buying an additional 255,150 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in shares of RxSight during the 4th quarter valued at about $8,226,000. Lord Abbett & CO. LLC raised its stake in RxSight by 13.8% during 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 period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of RxSight by 263.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 243,346 shares of the company’s stock worth $6,787,000 after acquiring an additional 176,451 shares in the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

About RxSight

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.