RxSight (NASDAQ:RXST) Announces Earnings Results

RxSight (NASDAQ:RXST) announced its earnings results on Tuesday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.25), Zacks reports. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%.

RxSight Trading Down 0.3 %

Shares of NASDAQ:RXST opened at $29.21 on Wednesday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -35.19 and a beta of 1.19. RxSight has a 1 year low of $26.29 and a 1 year high of $66.54. The business has a fifty day simple moving average of $32.78 and a 200 day simple moving average of $43.47.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price objective on shares of RxSight in a research note on Wednesday. Stifel Nicolaus reduced their target price on RxSight from $40.00 to $35.00 and set a “hold” rating for the company in a report on Monday, January 13th. Wells Fargo & Company lowered their price target on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday. UBS Group began coverage on RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Jefferies Financial Group started coverage on RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.63.

Insider Buying and Selling at RxSight

In other RxSight news, Director Shweta Maniar sold 3,519 shares of RxSight stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the sale, the director now directly owns 7,383 shares in the company, valued at $227,913.21. The trade was a 32.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ilya Goldshleger sold 3,105 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $46.08, for a total transaction of $143,078.40. Following the completion of the sale, the insider now directly owns 42,246 shares of the company’s stock, valued at $1,946,695.68. This represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.36% 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.