Insider Selling: RxSight, Inc. (NASDAQ:RXST) Insider Sells 3,100 Shares of Stock

RxSight, Inc. (NASDAQ:RXST) insider Ilya Goldshleger sold 3,100 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $49.02, for a total transaction of $151,962.00. Following the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at $2,070,898.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ilya Goldshleger also recently made the following trade(s):

• On Thursday, September 26th, Ilya Goldshleger sold 3,105 shares of RxSight stock. The stock was sold at an average price of $49.29, for a total transaction of $153,045.45.
• On Monday, September 23rd, Ilya Goldshleger sold 3,100 shares of RxSight stock. The shares were sold at an average price of $52.67, for a total value of $163,277.00.
• On Friday, September 20th, Ilya Goldshleger sold 3,100 shares of RxSight stock. The stock was sold at an average price of $53.19, for a total value of $164,889.00.
• On Monday, August 5th, Ilya Goldshleger sold 9,000 shares of RxSight stock. The shares were sold at an average price of $39.25, for a total value of $353,250.00.

RxSight Stock Performance

RxSight stock traded up $0.89 during trading hours on Monday, reaching $49.43. 436,551 shares of the company’s stock traded hands, compared to its average volume of 484,350. RxSight, Inc. has a fifty-two week low of $20.66 and a fifty-two week high of $66.54. The firm’s 50 day moving average is $51.15 and its 200-day moving average is $53.88. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -38.72 and a beta of 1.22.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.06. The business had revenue of $34.89 million for the quarter, compared to analyst estimates of $32.33 million. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The firm’s revenue was up 67.6% on a year-over-year basis. During the same period last year, the company earned ($0.40) EPS. Analysts predict that RxSight, Inc. will post -0.81 EPS for the current year.

Hedge Funds Weigh In On RxSight

Several institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC raised its stake in RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after buying an additional 371 shares during the period. Quest Partners LLC bought a new stake in shares of RxSight in the second quarter worth about $41,000. Larson Financial Group LLC acquired a new stake in shares of RxSight during the first quarter worth about $51,000. Amalgamated Bank grew its position in shares of RxSight by 21.3% in the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after purchasing an additional 207 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of RxSight in the 2nd quarter valued at approximately $156,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RXST shares. Needham & Company LLC restated a “buy” rating and issued a $66.00 target price on shares of RxSight in a research note on Friday, September 13th. BTIG Research boosted their price target on shares of RxSight from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Wells Fargo & Company dropped their price objective on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Oppenheimer cut their target price on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Finally, Stifel Nicolaus dropped their price target on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $60.14.

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.