Key Points
- RxSight insider Ronald Md Kurtz sold 5,100 shares for $35,496, reducing his ownership by 6.63% to 71,775 shares. The sale covered tax withholding obligations tied to vested equity awards.
- RxSight shares opened at $7.03, with a market capitalization of approximately $292.4 million. The company recently reported quarterly revenue of $33.74 million and an adjusted loss of $0.29 per share, beating analyst estimates.
- Analyst sentiment remains cautious: RxSight has an average “Reduce” rating and a consensus price target of $8.37, while hedge funds and other institutions own 78.78% of the stock.
RxSight, Inc. (NASDAQ:RXST - Get Free Report) COO Ilya Goldshleger sold 2,041 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total transaction of $14,205.36. Following the transaction, the chief operating officer owned 81,509 shares of the company's stock, valued at approximately $567,302.64. This represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
RxSight Stock Up 0.6%
Shares of RXST stock opened at $7.03 on Thursday. The stock's fifty day simple moving average is $5.95 and its 200 day simple moving average is $6.35. RxSight, Inc. has a twelve month low of $4.48 and a twelve month high of $13.22. The firm has a market capitalization of $292.40 million, a P/E ratio of -6.22 and a beta of 1.16.
RxSight (NASDAQ:RXST - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.04. RxSight had a negative net margin of 36.80% and a negative return on equity of 17.35%. The firm had revenue of $33.74 million during the quarter, compared to the consensus estimate of $32.55 million. As a group, equities research analysts expect that RxSight, Inc. will post -1.01 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts recently commented on RXST shares. Stifel Nicolaus cut their price objective on RxSight from $8.00 to $7.00 and set a "hold" rating on the stock in a research note on Monday, August 10th. Wall Street Zen lowered shares of RxSight from a "hold" rating to a "sell" rating in a report on Saturday, August 29th. Weiss Ratings downgraded shares of RxSight from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, June 11th. Jefferies Financial Group set a $6.50 price objective on shares of RxSight in a research report on Tuesday, July 7th. Finally, Needham & Company LLC reissued a "buy" rating and set a $11.00 target price on shares of RxSight in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $8.37.
Check Out Our Latest Stock Report on RXST
Institutional Trading of RxSight
Several hedge funds have recently bought and sold shares of RXST. Raymond James Financial Inc. bought a new position in shares of RxSight during the second quarter valued at about $28,000. Summit Securities Group LLC purchased a new stake in RxSight during the first quarter worth about $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 raised its position 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 worth $39,000 after acquiring an additional 3,063 shares during the period. Finally, CWM LLC boosted its stake in RxSight by 211.1% in the fourth quarter. CWM LLC now owns 3,826 shares of the company's stock valued at $40,000 after acquiring an additional 2,596 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company's stock.
About RxSight
(
Get Free Report)
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.
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