Insider Selling: RxSight, Inc. (NASDAQ:RXST) Director Sells 3,519 Shares of Stock

RxSight, Inc. (NASDAQ:RXST) Director Shweta Maniar sold 3,519 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the transaction, the director now directly owns 7,383 shares in the company, valued at $227,913.21. This represents a 32.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shweta Maniar also recently made the following trade(s):

• On Tuesday, November 26th, Shweta Maniar sold 3,782 shares of RxSight stock. The shares were sold at an average price of $45.88, for a total value of $173,518.16.

RxSight Stock Down 2.0 %

NASDAQ:RXST opened at $31.85 on Wednesday. The business’s 50-day moving average price is $37.11 and its two-hundred day moving average price is $45.54. RxSight, Inc. has a twelve month low of $26.29 and a twelve month high of $66.54. The stock has a market cap of $1.28 billion, a P/E ratio of -38.37 and a beta of 1.20.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.18). The business had revenue of $35.31 million during the quarter, compared to analysts’ expectations of $35.15 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. During the same period in the previous year, the business earned ($0.35) EPS. On average, equities research analysts expect that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

Analysts Set New Price Targets

RXST has been the topic of a number of recent research reports. UBS Group initiated coverage on RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of RxSight in a report on Monday, January 13th. Stifel Nicolaus dropped their price objective on RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company dropped their price objective on RxSight from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Jefferies Financial Group initiated coverage on RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, RxSight currently has an average rating of “Moderate Buy” and a consensus price target of $58.13.

Hedge Funds Weigh In On RxSight

Institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of RxSight by 854.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after purchasing an additional 521 shares during the last quarter. Quarry LP increased its position in shares of RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of RxSight during the 3rd quarter valued at about $34,000. Amalgamated Bank increased its position in shares of RxSight by 21.3% during the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after purchasing an additional 207 shares during the last quarter. Finally, KBC Group NV increased its position in shares of RxSight by 63.6% during the 3rd quarter. KBC Group NV now owns 1,232 shares of the company’s stock valued at $61,000 after purchasing an additional 479 shares during the last quarter. 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.