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

RxSight, Inc. (NASDAQ:RXST) shares fell 1.8% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $56.04 and last traded at $56.04. 17,822 shares were traded 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, Director Julie Andrews sold 15,625 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $58.00, for a total transaction of $906,250.00. Following the completion of the sale, the director now directly owns 30,287 shares in the company, valued at $1,756,646. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Shelley B. Thunen sold 10,000 shares of the 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 owns 13,938 shares in the company, valued at $734,393.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Julie Andrews sold 15,625 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $58.00, for a total value of $906,250.00. Following the completion of the sale, the director now owns 30,287 shares of the company’s stock, valued at approximately $1,756,646. The disclosure for this sale can be found here. Insiders sold 75,625 shares of company stock worth $4,425,250 over the last three months. 9.36% of the stock is owned by insiders.

Analyst Ratings Changes

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

RxSight Trading Down 0.1 %

The business has a 50-day moving average price of $58.63 and a two-hundred day moving average price of $52.26. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -45.23 and a beta of 1.20.

RxSight (NASDAQ:RXST) last posted its earnings results on Monday, May 6th. The company reported ($0.25) EPS 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 during the quarter, compared to analyst estimates of $27.56 million. During the same quarter in the prior year, the business earned ($0.42) earnings per share. The firm’s revenue was up 68.7% compared to the same quarter last year. On average, equities research analysts predict that RxSight, Inc. will post -0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RxSight

Hedge funds have recently modified their holdings of the company. RiverPark Advisors LLC increased its position in shares of RxSight by 70.0% during the 4th quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after purchasing an additional 275 shares during the period. Larson Financial Group LLC acquired a new position in shares of RxSight during the 1st quarter valued at $51,000. Amalgamated Bank increased its position in shares of RxSight by 7.7% during the 4th quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock valued at $167,000 after purchasing an additional 298 shares during the period. Clear Rock Advisors LLC acquired a new position in shares of RxSight during the 4th quarter valued at $172,000. Finally, Clarus Group Inc. acquired a new position in shares of RxSight during the 4th quarter valued at $202,000. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.