RxSight (NASDAQ:RXST) Issues Earnings Results, Misses Estimates By $0.25 EPS

RxSight (NASDAQ:RXST) posted its earnings results on Tuesday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.25), Zacks reports. The business had revenue of $40.21 million for the quarter, compared to analyst estimates of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%.

RxSight Price Performance

Shares of RxSight stock traded down $0.28 during trading on Thursday, reaching $28.70. 158,615 shares of the company traded hands, compared to its average volume of 619,469. The firm has a market capitalization of $1.16 billion, a PE ratio of -34.46 and a beta of 1.19. RxSight has a 1-year low of $26.29 and a 1-year high of $66.54. The company has a 50 day moving average price of $32.61 and a 200-day moving average price of $43.37.

Insiders Place Their Bets

In other news, Director Shweta Maniar sold 3,519 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total transaction of $108,631.53. Following the transaction, the director now owns 7,383 shares in the company, valued at approximately $227,913.21. This represents a 32.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ilya Goldshleger sold 3,105 shares of the firm’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 completion of the sale, the insider now owns 42,246 shares of the company’s stock, valued at approximately $1,946,695.68. This represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on RXST. UBS Group initiated coverage on RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $43.00 price target on shares of RxSight in a report on Wednesday. Stifel Nicolaus reduced their price objective on shares of RxSight from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Wednesday. Wells Fargo & Company decreased their price objective on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on shares of RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.63.

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.