RxSight (NASDAQ:RXST) Stock Price Down 3.1% on Insider Selling

RxSight, Inc. (NASDAQ:RXST)’s share price was down 3.1% on Friday after an insider sold shares in the company. The stock traded as low as $27.22 and last traded at $27.26. Approximately 333,963 shares changed hands during trading, a decline of 9% from the average daily volume of 365,074 shares. The stock had previously closed at $28.13.

Specifically, Director Bakker Juliet Tammenoms sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $27.13, for a total value of $2,713,000.00. Following the completion of the transaction, the director now owns 894,313 shares of the company’s stock, valued at approximately $24,262,711.69. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other RxSight news, Director Shweta Maniar sold 4,292 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $28.06, for a total value of $120,433.52. Following the transaction, the director now directly owns 24,947 shares of the company’s stock, valued at $700,012.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bakker Juliet Tammenoms sold 100,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $27.13, for a total value of $2,713,000.00. Following the completion of the sale, the director now owns 894,313 shares of the company’s stock, valued at approximately $24,262,711.69. The disclosure for this sale can be found here. Insiders have sold 143,417 shares of company stock valued at $3,997,054 over the last ninety days. Insiders own 21.13% of the company’s stock.

Analyst Upgrades and Downgrades

RXST has been the subject of a number of research analyst reports. Needham & Company LLC cut their price objective on shares of RxSight from $36.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 10th. Oppenheimer increased their target price on shares of RxSight from $29.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th.

RxSight Stock Down 3.2 %

The business’s 50 day moving average is $25.91 and its 200 day moving average is $26.93. The company has a market cap of $976.83 million, a P/E ratio of -16.26 and a beta of 0.79.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Thursday, November 9th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.07. The company had revenue of $22.20 million for the quarter, compared to analyst estimates of $20.81 million. RxSight had a negative net margin of 71.87% and a negative return on equity of 39.77%. As a group, equities research analysts forecast that RxSight, Inc. will post -1.55 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RXST. The Manufacturers Life Insurance Company increased its position in shares of RxSight by 38.5% during the third quarter. The Manufacturers Life Insurance Company now owns 14,504 shares of the company’s stock valued at $405,000 after acquiring an additional 4,034 shares during the last quarter. Sei Investments Co. raised its position in shares of RxSight by 75.2% during the 3rd quarter. Sei Investments Co. now owns 106,995 shares of the company’s stock worth $2,984,000 after acquiring an additional 45,937 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in RxSight by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 551,565 shares of the company’s stock worth $15,383,000 after purchasing an additional 11,431 shares in the last quarter. Ameriprise Financial Inc. lifted its position in RxSight by 220.8% in the third quarter. Ameriprise Financial Inc. now owns 54,230 shares of the company’s stock valued at $1,512,000 after acquiring an additional 37,325 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of RxSight in the 3rd quarter valued at about $223,000. 66.51% of the stock is owned by hedge funds and other institutional investors.

RxSight Company Profile

RxSight, Inc, an ophthalmic 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.