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

RxSight, Inc. (NASDAQ:RXST) insider Ronald Md Kurtz sold 5,100 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total transaction of $35,496.00. Following the sale, the insider owned 71,775 shares of the company’s stock, valued at approximately $499,554. This represents 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 this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Price Performance

RxSight stock traded up $0.04 during mid-day trading on Wednesday, reaching $7.03. 778,865 shares of the stock traded hands, compared to its average volume of 898,096. RxSight, Inc. has a 12-month low of $4.48 and a 12-month high of $13.22. The business’s 50-day moving average is $5.95 and its 200-day moving average is $6.35. The stock has a market capitalization of $292.40 million, a PE ratio of -6.22 and a beta of 1.16.

RxSight (NASDAQ:RXST) last announced its earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.04. The business had revenue of $33.74 million for the quarter, compared to analysts’ expectations of $32.55 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. Equities analysts anticipate that RxSight, Inc. will post -1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RXST has been the subject of a number of research reports. Bank of America reduced their target price on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a report on Tuesday, July 7th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of RxSight in a research note on Tuesday, July 7th. Wall Street Zen downgraded shares of RxSight from a “hold” rating to a “sell” rating in a research report on Saturday. Jefferies Financial Group set a $6.50 price objective on shares of RxSight in a research report on Tuesday, July 7th. Finally, Weiss Ratings lowered RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $8.37.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of RxSight by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock valued at $552,000 after buying an additional 1,232 shares during the last quarter. Invesco Ltd. boosted its position in shares of RxSight by 6.6% during the fourth quarter. Invesco Ltd. now owns 20,114 shares of the company’s stock worth $210,000 after acquiring an additional 1,249 shares during the last quarter. Verition Fund Management LLC boosted its position in shares of RxSight by 4.4% during the fourth quarter. Verition Fund Management LLC now owns 40,613 shares of the company’s stock worth $423,000 after acquiring an additional 1,701 shares during the last quarter. Larson Financial Group LLC grew its stake in RxSight by 110.5% during the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after acquiring an additional 2,089 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in RxSight by 5.0% during the second quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock valued at $579,000 after acquiring an additional 2,121 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors.

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.