RxSight (NASDAQ:RXST) Announces Quarterly Earnings Results

RxSight (NASDAQ:RXST) released its earnings results on Monday. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.06, Briefing.com reports. RxSight had a negative return on equity of 27.68% and a negative net margin of 44.01%. The company had revenue of $34.89 million during the quarter, compared to the consensus estimate of $32.33 million. During the same quarter last year, the company earned ($0.40) earnings per share. RxSight’s quarterly revenue was up 67.6% compared to the same quarter last year.

RxSight Stock Performance

NASDAQ RXST traded down $1.61 during mid-day trading on Wednesday, reaching $46.24. 731,727 shares of the stock were exchanged, compared to its average volume of 492,040. The business’s fifty day simple moving average is $53.18 and its 200 day simple moving average is $53.45. The stock has a market capitalization of $1.71 billion, a PE ratio of -37.98 and a beta of 1.19. RxSight has a 1-year low of $20.66 and a 1-year high of $66.54.

Insiders Place Their Bets

In other news, Director Julie Andrews sold 15,625 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $58.00, for a total transaction of $906,250.00. Following the transaction, the director now directly owns 30,287 shares in the company, valued at approximately $1,756,646. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other RxSight news, Director Julie Andrews sold 15,625 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $58.00, for a total transaction of $906,250.00. Following the completion of the sale, the director now owns 30,287 shares of the company’s stock, valued at $1,756,646. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $58.61, for a total value of $586,100.00. Following the completion of the transaction, the chief financial officer now owns 13,938 shares in the company, valued at $816,906.18. The disclosure for this sale can be found here. Insiders have sold a total of 34,625 shares of company stock valued at $1,845,600 in the last quarter. 9.36% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on RXST shares. 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. Oppenheimer lowered their target price on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday. BTIG Research lifted their price target on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Wells Fargo & Company lowered their price objective on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Needham & Company LLC reduced their target price on RxSight from $75.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $58.43.

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.