Insider Selling: RxSight, Inc. (NASDAQ:RXST) CEO Sells $2,406,000.00 in Stock

RxSight, Inc. (NASDAQ:RXST) CEO Ronald M. Md Kurtz sold 40,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $60.15, for a total value of $2,406,000.00. Following the completion of the transaction, the chief executive officer now owns 764,610 shares in the company, valued at approximately $45,991,291.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

RxSight Stock Performance

NASDAQ:RXST opened at $60.66 on Thursday. RxSight, Inc. has a 52 week low of $18.72 and a 52 week high of $66.54. The firm has a 50-day moving average price of $52.95 and a two-hundred day moving average price of $43.59. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -42.42 and a beta of 1.21.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The business had revenue of $29.51 million for the quarter, compared to analysts’ expectations of $27.56 million. During the same period in the previous year, the business posted ($0.42) earnings per share. The business’s revenue was up 68.7% compared to the same quarter last year. As a group, sell-side analysts forecast that RxSight, Inc. will post -0.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. BTIG Research increased their target price on RxSight from $61.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company lifted their price objective on shares of RxSight from $61.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Oppenheimer lifted their price target on RxSight from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Stifel Nicolaus increased their price objective on RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $60.63.

Institutional Investors Weigh In On RxSight

A number of hedge funds have recently made changes to their positions in the business. RiverPark Advisors LLC grew its position in RxSight by 70.0% during the fourth quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after buying an additional 275 shares during the period. Amalgamated Bank boosted its stake in RxSight by 7.7% in the fourth quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock valued at $167,000 after acquiring an additional 298 shares during the last quarter. FORA Capital LLC boosted its stake in RxSight by 5.6% in the first quarter. FORA Capital LLC now owns 11,695 shares of the company’s stock valued at $603,000 after acquiring an additional 622 shares during the last quarter. HighTower Advisors LLC grew its position in shares of RxSight by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 13,256 shares of the company’s stock valued at $369,000 after acquiring an additional 899 shares during the period. Finally, Larson Financial Group LLC purchased a new stake in shares of RxSight during the 1st quarter worth approximately $51,000. 78.78% of the stock is currently owned by institutional investors.

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.