RxSight, Inc. (NASDAQ:RXST) Insider Sells $353,250.00 in Stock

RxSight, Inc. (NASDAQ:RXST) insider Ilya Goldshleger sold 9,000 shares of RxSight stock in a transaction on Monday, August 5th. The shares were sold at an average price of $39.25, for a total transaction of $353,250.00. Following the completion of the sale, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $1,658,155.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

RxSight Stock Performance

NASDAQ:RXST opened at $49.35 on Friday. The firm’s 50-day moving average is $52.69 and its 200-day moving average is $53.37. RxSight, Inc. has a 52-week low of $20.66 and a 52-week high of $66.54. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -39.17 and a beta of 1.19.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.06. RxSight had a negative net margin of 44.01% and a negative return on equity of 27.68%. The company had revenue of $34.89 million for the quarter, compared to the consensus estimate of $32.33 million. During the same quarter in the previous year, the firm posted ($0.40) EPS. The business’s revenue was up 67.6% compared to the same quarter last year. Equities analysts predict that RxSight, Inc. will post -0.75 EPS for the current year.

Analyst Upgrades and Downgrades

RXST has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on shares of RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday. Wells Fargo & Company cut their target price on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday. Needham & Company LLC cut their target price on shares of RxSight from $75.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday. Oppenheimer cut their target price on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, BTIG Research boosted their target price on shares of RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $58.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RXST. Vanguard Group Inc. increased its holdings 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 worth $39,993,000 after purchasing an additional 255,150 shares during the period. Arizona State Retirement System bought a new stake in RxSight in the fourth quarter valued at about $261,000. Clarus Group Inc. bought a new stake in RxSight in the fourth quarter valued at about $202,000. New York State Common Retirement Fund increased its stake in RxSight by 25.8% in the fourth quarter. New York State Common Retirement Fund now owns 135,438 shares of the company’s stock valued at $5,461,000 after acquiring an additional 27,758 shares during the period. Finally, Precision Wealth Strategies LLC bought a new stake in RxSight in the fourth quarter valued at about $287,000. 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.