Ronald Md Kurtz Sells 5,100 Shares of RxSight (NASDAQ:RXST) Stock

RxSight, Inc. (NASDAQ:RXST) insider Ronald Md Kurtz sold 5,100 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total transaction of $35,496.00. Following the transaction, the insider owned 71,775 shares in the company, valued at $499,554. This represents a 6.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Price Performance

Shares of RXST opened at $6.54 on Friday. The company has a 50-day simple moving average of $5.98 and a two-hundred day simple moving average of $6.34. The firm has a market capitalization of $272.00 million, a PE ratio of -5.79 and a beta of 1.16. RxSight, Inc. has a one year low of $4.48 and a one year high of $13.22.

RxSight (NASDAQ:RXST) last posted its earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%.The firm had revenue of $33.74 million for the quarter, compared to the consensus estimate of $32.55 million. Analysts expect that RxSight, Inc. will post -1.01 EPS for the current fiscal year.

Institutional Investors Weigh In On RxSight

Several hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of RxSight by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock valued at $552,000 after acquiring an additional 1,232 shares in the last quarter. Invesco Ltd. boosted its stake in RxSight by 6.6% in the 4th quarter. Invesco Ltd. now owns 20,114 shares of the company’s stock worth $210,000 after purchasing an additional 1,249 shares in the last quarter. Verition Fund Management LLC boosted its stake in RxSight by 4.4% in the 4th quarter. Verition Fund Management LLC now owns 40,613 shares of the company’s stock worth $423,000 after purchasing an additional 1,701 shares in the last quarter. Larson Financial Group LLC boosted its stake in RxSight by 110.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock worth $36,000 after purchasing an additional 2,089 shares in the last quarter. Finally, Legal & General Group Plc grew its position in RxSight by 5.0% during the 2nd quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock valued at $579,000 after purchasing an additional 2,121 shares during the last quarter. 78.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RXST has been the subject of several recent research reports. UBS Group raised their price objective on RxSight from $5.50 to $6.30 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Stifel Nicolaus reduced their target price on shares of RxSight from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Monday, August 10th. Wells Fargo & Company decreased their price target on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Weiss Ratings cut shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Finally, Wall Street Zen lowered shares of RxSight from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $8.37.

RxSight Company Profile

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.