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

RxSight (NASDAQ:RXST) announced its quarterly earnings results on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25), Zacks reports. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%.

RxSight Stock Down 0.3 %

RxSight stock traded down $0.08 during mid-day trading on Tuesday, hitting $29.21. The company had a trading volume of 696,954 shares, compared to its average volume of 605,940. RxSight has a 1 year low of $26.29 and a 1 year high of $66.54. The business has a fifty day moving average of $32.96 and a 200 day moving average of $43.62. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -35.19 and a beta of 1.19.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RXST shares. UBS Group initiated coverage on RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price objective on shares of RxSight in a report on Monday, January 13th. Stifel Nicolaus cut their target price on shares of RxSight from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group began coverage on shares of RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target for the company. Finally, Wells Fargo & Company lowered 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. Two equities research analysts have rated the stock with a hold rating and six have given 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.

Insider Buying and Selling

In other RxSight news, insider Ilya Goldshleger sold 3,105 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was 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 in the company, valued at approximately $1,946,695.68. The trade was a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shweta Maniar sold 3,519 shares of RxSight stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total transaction of $108,631.53. Following the completion of the transaction, the director now directly owns 7,383 shares in the company, valued at $227,913.21. The trade was a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.36% of the stock is owned by company insiders.

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.