RxSight (NASDAQ:RXST) Announces Quarterly Earnings Results, Beats Estimates By $0.15 EPS

RxSight (NASDAQ:RXST) issued its quarterly earnings results on Wednesday. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.15, FiscalAI reports. RxSight had a negative net margin of 21.93% and a negative return on equity of 11.56%. The firm had revenue of $30.34 million during the quarter, compared to analyst estimates of $25.63 million. During the same quarter in the prior year, the business posted ($0.16) earnings per share. RxSight’s revenue for the quarter was down 31.4% compared to the same quarter last year. RxSight updated its FY 2025 guidance to EPS.

RxSight Stock Performance

NASDAQ:RXST traded up $0.27 during mid-day trading on Thursday, reaching $8.61. 1,770,472 shares of the company’s stock were exchanged, compared to its average volume of 988,837. RxSight has a one year low of $6.32 and a one year high of $55.57. The firm has a market capitalization of $352.32 million, a PE ratio of -10.76 and a beta of 1.16. The business’s fifty day simple moving average is $8.79 and its two-hundred day simple moving average is $10.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RXST. BNP Paribas Financial Markets increased its stake in shares of RxSight by 123.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 481,064 shares of the company’s stock valued at $6,254,000 after acquiring an additional 265,989 shares in the last quarter. Wasatch Advisors LP increased its position in shares of RxSight by 17.0% in the second quarter. Wasatch Advisors LP now owns 448,539 shares of the company’s stock worth $5,831,000 after purchasing an additional 65,052 shares during the last quarter. Qube Research & Technologies Ltd grew its position in RxSight by 19.6% during the second quarter. Qube Research & Technologies Ltd now owns 386,210 shares of the company’s stock valued at $5,021,000 after acquiring an additional 63,187 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of RxSight by 138.6% during the second quarter. Squarepoint Ops LLC now owns 374,663 shares of the company’s stock valued at $4,871,000 after purchasing an additional 217,608 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in RxSight by 57.9% in the first quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock worth $7,838,000 after acquiring an additional 113,767 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Stifel Nicolaus set a $10.00 target price on shares of RxSight in a research note on Thursday. Jefferies Financial Group restated a “hold” rating and issued a $9.00 price target (down previously from $24.00) on shares of RxSight in a research report on Thursday, July 10th. Wells Fargo & Company raised their target price on shares of RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday. Wall Street Zen downgraded shares of RxSight from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. Finally, Piper Sandler dropped their price target on shares of RxSight from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $10.44.

About RxSight

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.