Sight Sciences FY2024 EPS Forecast Lifted by William Blair

Sight Sciences, Inc. (NASDAQ:SGHT) – Stock analysts at William Blair increased their FY2024 earnings per share (EPS) estimates for Sight Sciences in a note issued to investors on Monday, November 11th. William Blair analyst M. Andrew now forecasts that the company will post earnings of ($1.10) per share for the year, up from their prior forecast of ($1.19). The consensus estimate for Sight Sciences’ current full-year earnings is ($1.02) per share. William Blair also issued estimates for Sight Sciences’ Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.29) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.29) EPS and FY2025 earnings at ($1.08) EPS.

Several other equities analysts have also issued reports on SGHT. Morgan Stanley decreased their price target on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Monday. Piper Sandler reiterated a “neutral” rating and issued a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Lake Street Capital cut shares of Sight Sciences from a “buy” rating to a “hold” rating and dropped their target price for the stock from $10.00 to $5.00 in a report on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, Sight Sciences has an average rating of “Hold” and an average price target of $5.50.

Sight Sciences Price Performance

Shares of SGHT opened at $4.23 on Wednesday. The firm has a 50 day simple moving average of $5.85 and a two-hundred day simple moving average of $6.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 10.50 and a current ratio of 10.18. Sight Sciences has a one year low of $1.70 and a one year high of $8.45.

Sight Sciences (NASDAQ:SGHT) last issued its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.01. The company had revenue of $20.16 million during the quarter, compared to analysts’ expectations of $20.41 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%.

Hedge Funds Weigh In On Sight Sciences

A number of hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. increased its position in Sight Sciences by 25.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock valued at $1,991,000 after purchasing an additional 76,549 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Sight Sciences by 51.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock valued at $141,000 after purchasing an additional 9,106 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Sight Sciences by 5.5% during the first quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock worth $8,218,000 after buying an additional 81,768 shares during the period. Long Focus Capital Management LLC raised its stake in Sight Sciences by 86.9% during the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock worth $3,739,000 after buying an additional 260,594 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Sight Sciences by 256.6% in the second quarter. Acadian Asset Management LLC now owns 83,693 shares of the company’s stock valued at $556,000 after buying an additional 60,220 shares during the period. 55.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Matthew Link sold 21,831 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $5.61, for a total transaction of $122,471.91. Following the sale, the insider now directly owns 663,550 shares in the company, valued at approximately $3,722,515.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Paul Badawi sold 12,727 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total transaction of $76,234.73. Following the completion of the transaction, the chief executive officer now directly owns 5,725,433 shares of the company’s stock, valued at $34,295,343.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Link sold 21,831 shares of Sight Sciences stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $5.61, for a total value of $122,471.91. Following the transaction, the insider now directly owns 663,550 shares in the company, valued at $3,722,515.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,357 shares of company stock valued at $574,666 in the last 90 days. Corporate insiders own 28.90% of the company’s stock.

About Sight Sciences

Sight Sciences, Inc, an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. It operates through two segments, Surgical Glaucoma and Dry Eye. The company's products include OMNI Surgical System, an implant-free glaucoma surgery technology indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and SION Surgical Instrument, a manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork.