RxSight (NASDAQ:RXST) Insider Sells $35,496.00 in Stock

RxSight, Inc. (NASDAQ:RXST) insider Ronald Md Kurtz sold 5,100 shares of RxSight stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total value of $35,496.00. Following the sale, the insider directly owned 71,775 shares in the company, valued at approximately $499,554. The trade was a 6.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Stock Performance

Shares of RXST opened at $6.38 on Friday. The company has a market capitalization of $265.34 million, a P/E ratio of -5.65 and a beta of 1.16. RxSight, Inc. has a one year low of $4.48 and a one year high of $13.22. The stock has a 50-day moving average price of $6.00 and a 200 day moving average price of $6.34.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%.The firm had revenue of $33.74 million during the quarter, compared to analyst estimates of $32.55 million. As a group, equities research analysts forecast that RxSight, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RxSight

Several institutional investors and hedge funds have recently made changes to their positions in RXST. Vitruvian Partners LLP bought a new stake in RxSight during the second quarter valued at $1,344,129. Tocqueville Asset Management L.P. bought a new position in shares of RxSight in the 2nd quarter worth about $1,277,000. Walleye Capital LLC bought a new position in shares of RxSight in the 2nd quarter worth about $1,726,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of RxSight by 761.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,131,400 shares of the company’s stock valued at $6,969,000 after buying an additional 1,000,000 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of RxSight during the 2nd quarter valued at about $874,000. 78.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RXST. Bank of America dropped their price target on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Wall Street Zen lowered shares of RxSight from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Stifel Nicolaus dropped their target price on shares of RxSight from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Monday, August 10th. Jefferies Financial Group set a $6.50 target price on shares of RxSight in a research note on Tuesday, July 7th. Finally, Weiss Ratings cut shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $8.37.

About RxSight

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.