RxSight (NASDAQ:RXST) Issues Earnings Results, Misses Expectations By $0.25 EPS

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

RxSight Price Performance

RXST stock traded down $0.08 during trading on Tuesday, hitting $29.21. 696,931 shares of the company traded hands, compared to its average volume of 605,937. The company has a market cap of $1.18 billion, a PE ratio of -35.19 and a beta of 1.19. RxSight has a 1 year low of $26.29 and a 1 year high of $66.54. The stock’s 50-day simple moving average is $32.96 and its 200 day simple moving average is $43.62.

Wall Street Analyst Weigh In

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

Insider Activity at RxSight

In other 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 directly owns 42,246 shares in the company, valued at $1,946,695.68. The trade was a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jesse Anderson Corley acquired 1,443 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were bought at an average cost of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the acquisition, the director now owns 1,443 shares of the company’s stock, valued at approximately $44,992.74. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 9.36% of the company’s stock.

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.