RxSight (NASDAQ:RXST) Insider Sells 2,041 Shares

RxSight, Inc. (NASDAQ:RXST) insider Eric Weinberg sold 2,041 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total value of $14,205.36. Following the sale, the insider owned 200,348 shares of the company’s stock, valued at approximately $1,394,422.08. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Stock Up 0.6%

Shares of RXST traded up $0.04 during trading hours on Wednesday, hitting $7.03. 778,865 shares of the company were exchanged, compared to its average volume of 898,096. RxSight, Inc. has a fifty-two week low of $4.48 and a fifty-two week high of $13.22. The company has a market cap of $292.40 million, a price-to-earnings ratio of -6.22 and a beta of 1.16. The firm’s fifty day moving average is $5.95 and its 200 day moving average is $6.35.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%.The business had revenue of $33.74 million during the quarter, compared to the consensus estimate of $32.55 million. Analysts anticipate that RxSight, Inc. will post -1.01 EPS for the current year.

Wall Street Analyst Weigh In

RXST has been the subject of a number of recent analyst reports. UBS Group upped their price target on shares of RxSight from $5.50 to $6.30 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Jefferies Financial Group set a $6.50 target price on RxSight in a research note on Tuesday, July 7th. Stifel Nicolaus reduced their target price on RxSight from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Monday, August 10th. Wall Street Zen lowered RxSight from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Wells Fargo & Company lowered their price target on RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $8.37.

Institutional Investors Weigh In On RxSight

Several hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in RxSight in the 2nd quarter valued at about $28,000. Summit Securities Group LLC purchased a new stake in shares of RxSight during the 1st quarter valued at $30,000. Larson Financial Group LLC raised its position in RxSight by 110.5% in the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock worth $36,000 after acquiring an additional 2,089 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in RxSight by 440.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock valued at $39,000 after purchasing an additional 3,063 shares during the last quarter. Finally, CWM LLC lifted its position in shares of RxSight by 211.1% during the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock valued at $40,000 after buying an additional 2,596 shares during the last quarter. Institutional investors own 78.78% of the company’s stock.

RxSight Company Profile

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.