RxSight (NASDAQ:RXST) Announces Quarterly Earnings Results

RxSight (NASDAQ:RXST) released its quarterly earnings data on Tuesday. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25), Zacks reports. The business had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%.

RxSight Stock Performance

RXST stock traded down $0.28 during mid-day trading on Thursday, hitting $28.70. The company had a trading volume of 158,615 shares, compared to its average volume of 619,469. RxSight has a 12 month low of $26.29 and a 12 month high of $66.54. The stock’s fifty day moving average price is $32.61 and its two-hundred day moving average price is $43.37. The firm has a market cap of $1.16 billion, a PE ratio of -34.46 and a beta of 1.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lowered their price target on RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday. Stifel Nicolaus reduced their target price on shares of RxSight from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Wednesday. UBS Group assumed coverage on shares of RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price objective on shares of RxSight in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.63.

Insider Transactions at RxSight

In other news, Director Jesse Anderson Corley bought 1,443 shares of the stock in a transaction on Wednesday, January 15th. The shares were purchased at an average cost of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the purchase, the director now directly owns 1,443 shares in the company, valued at $44,992.74. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ilya Goldshleger sold 3,105 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $46.08, for a total value of $143,078.40. Following the transaction, the insider now owns 42,246 shares of the company’s stock, valued at $1,946,695.68. The trade was a 6.85 % decrease in their position. The disclosure for this sale can be found here. 9.36% of the stock is currently owned by company insiders.

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.