William Blair Expects Increased Earnings for Sight Sciences

Sight Sciences, Inc. (NASDAQ:SGHT) – Research analysts at William Blair raised their FY2024 earnings per share (EPS) estimates for shares of Sight Sciences in a research report issued 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 previous 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.

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

Sight Sciences Stock Down 7.8 %

Shares of NASDAQ SGHT opened at $4.23 on Wednesday. The company has a fifty day moving average price of $5.85 and a 200 day moving average price of $6.24. The company has a quick ratio of 10.50, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. Sight Sciences has a 1-year low of $1.70 and a 1-year high of $8.45.

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

Insider Activity

In related news, insider Matthew Link sold 21,831 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $5.61, for a total transaction of $122,471.91. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Paul Badawi sold 12,727 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 5,725,433 shares of the company’s stock, valued at approximately $34,295,343.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew Link sold 21,831 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $5.61, for a total value of $122,471.91. Following the sale, the insider now directly owns 663,550 shares of the company’s stock, valued at $3,722,515.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,357 shares of company stock valued at $574,666. 28.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Sight Sciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in Sight Sciences by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after buying an additional 8,527 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Sight Sciences by 51.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock worth $141,000 after purchasing an additional 9,106 shares during the period. Steele Capital Management Inc. acquired a new stake in Sight Sciences during the 2nd quarter worth approximately $67,000. State Board of Administration of Florida Retirement System bought a new stake in Sight Sciences in the 1st quarter valued at $59,000. Finally, Rhumbline Advisers boosted its stake in Sight Sciences by 40.1% in the 2nd quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock valued at $272,000 after purchasing an additional 11,671 shares during the period. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Sight Sciences Company Profile

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.