Eric Weinberg Sells 2,041 Shares of RxSight (NASDAQ:RXST) Stock

RxSight, Inc. (NASDAQ:RXST) insider Eric Weinberg sold 2,041 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total value of $14,205.36. Following the completion of the transaction, the insider directly owned 200,348 shares in the company, valued at approximately $1,394,422.08. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing 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

NASDAQ RXST opened at $6.54 on Friday. RxSight, Inc. has a 12 month low of $4.48 and a 12 month high of $13.22. The company’s fifty day moving average price is $5.98 and its two-hundred day moving average price is $6.34. The company has a market capitalization of $272.00 million, a price-to-earnings ratio of -5.79 and a beta of 1.16.

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

Institutional Trading of RxSight

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of RxSight in the 2nd quarter worth approximately $27,910,000. Millennium Management LLC increased its position in RxSight by 130.6% in the third quarter. Millennium Management LLC now owns 2,193,062 shares of the company’s stock worth $19,716,000 after buying an additional 1,241,885 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in RxSight by 761.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,131,400 shares of the company’s stock worth $6,969,000 after buying an additional 1,000,000 shares during the period. Grandeur Peak Global Advisors LLC bought a new stake in RxSight in the second quarter valued at $3,482,000. Finally, Bank of America Corp DE lifted its stake in RxSight by 406.0% in the third quarter. Bank of America Corp DE now owns 722,435 shares of the company’s stock valued at $6,495,000 after buying an additional 579,653 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RXST. Wells Fargo & Company lowered their price target on RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Jefferies Financial Group set a $6.50 price objective on shares of RxSight in a report on Tuesday, July 7th. Bank of America lowered their target price on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. UBS Group increased their target price on shares of RxSight from $5.50 to $6.30 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average 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.