RxSight (NASDAQ:RXST) Trading Down 1.8% After Insider Selling

RxSight, Inc. (NASDAQ:RXST) traded down 1.8% on Wednesday after an insider sold shares in the company. The stock traded as low as $56.04 and last traded at $56.04. 17,822 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 438,282 shares. The stock had previously closed at $57.04.

Specifically, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $52.69, for a total value of $526,900.00. Following the completion of the sale, the chief financial officer now directly owns 13,938 shares in the company, valued at $734,393.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Shelley B. Thunen sold 10,000 shares of RxSight stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $52.69, for a total value of $526,900.00. Following the completion of the sale, the chief financial officer now directly owns 13,938 shares in the company, valued at $734,393.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of RxSight stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $60.15, for a total value of $2,406,000.00. Following the completion of the sale, the chief executive officer now owns 764,610 shares of the company’s stock, valued at $45,991,291.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,625 shares of company stock worth $4,425,250. 9.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RXST shares. Needham & Company LLC lifted their price objective on RxSight from $64.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. BTIG Research boosted their target price on RxSight from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Oppenheimer boosted their target price on RxSight from $61.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Wells Fargo & Company boosted their target price on RxSight from $61.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus boosted their target price on RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $60.63.

RxSight Trading Down 1.8 %

The firm has a market cap of $2.07 billion, a P/E ratio of -45.27 and a beta of 1.20. The company has a fifty day moving average price of $58.55 and a two-hundred day moving average price of $52.22.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.08). RxSight had a negative net margin of 44.01% and a negative return on equity of 27.68%. The business had revenue of $29.51 million for the quarter, compared to the consensus estimate of $27.56 million. During the same quarter last year, the firm earned ($0.42) EPS. The company’s revenue for the quarter was up 68.7% on a year-over-year basis. As a group, sell-side analysts expect that RxSight, Inc. will post -0.77 EPS for the current year.

Hedge Funds Weigh In On RxSight

Several institutional investors have recently modified their holdings of the business. RA Capital Management L.P. lifted its holdings in shares of RxSight by 1.1% during the 1st quarter. RA Capital Management L.P. now owns 3,442,825 shares of the company’s stock valued at $177,581,000 after purchasing an additional 38,540 shares in the last quarter. Vanguard Group Inc. lifted its stake in RxSight by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company’s stock valued at $78,634,000 after acquiring an additional 40,500 shares in the last quarter. Parkman Healthcare Partners LLC lifted its stake in RxSight by 34.5% in the 4th quarter. Parkman Healthcare Partners LLC now owns 513,032 shares of the company’s stock valued at $20,685,000 after acquiring an additional 131,701 shares in the last quarter. Victory Capital Management Inc. lifted its stake in RxSight by 108.6% in the 4th quarter. Victory Capital Management Inc. now owns 256,684 shares of the company’s stock valued at $10,349,000 after acquiring an additional 133,642 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in RxSight in the 4th quarter valued at approximately $8,226,000. Institutional investors own 78.78% of the company’s stock.

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.