RxSight (NASDAQ:RXST) Announces Earnings Results

RxSight (NASDAQ:RXST) released its earnings results on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.25), Zacks reports. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%.

RxSight Stock Performance

NASDAQ RXST traded down $0.08 during trading on Tuesday, hitting $29.21. The stock had a trading volume of 696,931 shares, compared to its average volume of 605,937. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -35.19 and a beta of 1.19. The stock has a 50 day simple moving average of $32.96 and a 200 day simple moving average of $43.62. RxSight has a one year low of $26.29 and a one year high of $66.54.

Insider Activity

In other news, insider Ilya Goldshleger sold 3,105 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $46.08, for a total value of $143,078.40. Following the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $1,946,695.68. This represents a 6.85 % 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. Also, Director Shweta Maniar sold 3,519 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total transaction of $108,631.53. Following the completion of the transaction, the director now directly owns 7,383 shares in the company, valued at $227,913.21. This represents a 32.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RXST shares. UBS Group initiated coverage on shares of RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 target price for the company. Wells Fargo & Company dropped their price objective on RxSight from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group initiated coverage on RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price on the stock. Stifel Nicolaus lowered their price target on RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price objective on shares of RxSight in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.13.

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.