RxSight (NASDAQ:RXST) Announces Quarterly Earnings Results

RxSight (NASDAQ:RXST) issued its earnings results on Monday. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.08), Briefing.com reports. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The firm had revenue of $29.51 million during the quarter, compared to the consensus estimate of $27.56 million. During the same period in the previous year, the company posted ($0.42) EPS. The firm’s revenue for the quarter was up 68.7% on a year-over-year basis. RxSight updated its FY 2024 guidance to EPS.

RxSight Stock Down 3.3 %

Shares of NASDAQ RXST traded down $2.02 during mid-day trading on Thursday, reaching $58.64. 684,203 shares of the company were exchanged, compared to its average volume of 437,919. The company’s 50-day simple moving average is $53.03 and its 200-day simple moving average is $43.71. The stock has a market capitalization of $2.17 billion, a P/E ratio of -42.42 and a beta of 1.21. RxSight has a twelve month low of $19.90 and a twelve month high of $66.54.

Insider Transactions at RxSight

In other news, CEO Ronald M. Md Kurtz sold 40,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 764,610 shares in the company, valued at approximately $45,991,291.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Ronald M. Md Kurtz sold 40,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $45,991,291.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $56.37, for a total transaction of $563,700.00. Following the transaction, the chief financial officer now directly owns 13,691 shares in the company, valued at $771,761.67. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,365 shares of company stock worth $5,020,520. 21.13% of the stock is owned by insiders.

Analysts Set New Price Targets

RXST has been the subject of several recent research reports. JPMorgan Chase & Co. increased 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 increased their target price on shares of RxSight from $61.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company increased their target price on shares of RxSight from $61.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday. Stifel Nicolaus increased their price target on shares of RxSight from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Monday. Finally, BTIG Research increased their price target on shares of RxSight from $61.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $60.63.

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.