Ronald M. Md Kurtz Sells 40,000 Shares of RxSight, Inc. (NASDAQ:RXST) Stock

RxSight, Inc. (NASDAQ:RXST) CEO Ronald M. Md Kurtz sold 40,000 shares of RxSight stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $60.15, for a total value of $2,406,000.00. Following the sale, the chief executive officer now directly owns 764,610 shares in the company, valued at approximately $45,991,291.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

RxSight Stock Performance

Shares of RXST stock traded up $1.16 on Monday, hitting $62.84. 586,202 shares of the stock traded hands, compared to its average volume of 434,390. The firm’s 50-day moving average price is $52.73 and its two-hundred day moving average price is $43.06. RxSight, Inc. has a twelve month low of $18.35 and a twelve month high of $64.92. The stock has a market capitalization of $2.32 billion, a PE ratio of -43.94 and a beta of 1.21.

RxSight (NASDAQ:RXST) last posted its earnings results on Wednesday, February 28th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The company had revenue of $28.58 million for the quarter, compared to analysts’ expectations of $28.60 million. On average, equities research analysts anticipate that RxSight, Inc. will post -0.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RXST shares. Stifel Nicolaus boosted their price objective on shares of RxSight from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Monday. Oppenheimer increased their price target on RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and set a $64.00 target price on shares of RxSight in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. increased their price target on RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $50.13.

Hedge Funds Weigh In On RxSight

Several institutional investors have recently bought and sold shares of RXST. Larson Financial Group LLC purchased a new stake in RxSight during the 1st quarter worth approximately $51,000. GSA Capital Partners LLP purchased a new stake in shares of RxSight during the first quarter worth $1,929,000. RiverPark Advisors LLC raised its stake in shares of RxSight by 361.4% in the first quarter. RiverPark Advisors LLC now owns 3,082 shares of the company’s stock valued at $159,000 after acquiring an additional 2,414 shares in the last quarter. FORA Capital LLC boosted its holdings in RxSight by 5.6% in the first quarter. FORA Capital LLC now owns 11,695 shares of the company’s stock valued at $603,000 after purchasing an additional 622 shares during the period. Finally, Capstone Investment Advisors LLC raised its position in RxSight by 698.4% in the 1st quarter. Capstone Investment Advisors LLC now owns 127,200 shares of the company’s stock valued at $6,561,000 after purchasing an additional 111,269 shares in the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

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.