RxSight, Inc. (NASDAQ:RXST – Get Free Report) shares were down 12.3% on Wednesday after Stifel Nicolaus lowered their price target on the stock from $75.00 to $70.00. Stifel Nicolaus currently has a buy rating on the stock. RxSight traded as low as $48.93 and last traded at $50.00. Approximately 105,286 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 434,268 shares. The stock had previously closed at $56.99.
A number of other research firms also recently commented on RXST. Wells Fargo & Company boosted their price objective on shares of RxSight from $61.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. BTIG Research upped their price target on RxSight from $61.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Oppenheimer raised their price objective on RxSight from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Finally, Needham & Company LLC boosted their target price on RxSight from $64.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, RxSight presently has a consensus rating of “Buy” and an average target price of $65.00.
Insider Buying and Selling at RxSight
In other news, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $52.69, for a total value of $526,900.00. Following the sale, the chief financial officer now directly owns 13,938 shares in the company, valued at $734,393.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Shelley B. Thunen sold 10,000 shares of RxSight stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $52.69, for a total transaction of $526,900.00. Following the completion of the sale, the chief financial officer now directly owns 13,938 shares in the company, valued at $734,393.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the transaction, the chief executive officer now directly owns 764,610 shares in the company, valued at approximately $45,991,291.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,625 shares of company stock worth $4,425,250. 9.36% of the stock is owned by insiders.
Institutional Investors Weigh In On RxSight
Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in RxSight by 21.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,433,953 shares of the company’s stock worth $39,993,000 after buying an additional 255,150 shares during the last quarter. Grey Street Capital LLC acquired a new stake in shares of RxSight in the fourth quarter worth approximately $765,000. RiverPark Advisors LLC boosted its position in shares of RxSight by 70.0% in the fourth quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock worth $27,000 after acquiring an additional 275 shares during the last quarter. Legato Capital Management LLC grew its holdings in RxSight by 57.2% in the fourth quarter. Legato Capital Management LLC now owns 20,320 shares of the company’s stock valued at $819,000 after purchasing an additional 7,395 shares during the period. Finally, Arizona State Retirement System acquired a new position in RxSight during the fourth quarter worth approximately $261,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.
RxSight Stock Down 10.3 %
The company has a market cap of $1.89 billion, a PE ratio of -39.68 and a beta of 1.20. The stock’s 50 day simple moving average is $58.99 and its two-hundred day simple moving average is $52.86.
RxSight (NASDAQ:RXST – Get Free Report) last announced its quarterly 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). The firm had revenue of $29.51 million for the quarter, compared to analyst estimates of $27.56 million. RxSight had a negative return on equity of 27.68% and a negative net margin of 44.01%. The business’s revenue was up 68.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.42) earnings per share. Analysts forecast that RxSight, Inc. will post -0.77 EPS for the current year.
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.