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

RxSight (NASDAQ:RXST) issued its 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 %

Shares of RXST stock opened at $29.21 on Wednesday. The stock has a 50-day simple moving average of $32.78 and a 200 day simple moving average of $43.47. The stock has a market capitalization of $1.18 billion, a P/E ratio of -35.19 and a beta of 1.19. RxSight has a fifty-two week low of $26.29 and a fifty-two week high of $66.54.

Insiders Place Their Bets

In related news, insider Ilya Goldshleger sold 3,105 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $46.08, for a total value of $143,078.40. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shweta Maniar sold 3,519 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $227,913.21. This represents 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.

Wall Street Analysts Forecast Growth

RXST has been the topic of a number of analyst reports. Stifel Nicolaus dropped their price objective on shares of RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of RxSight in a research note on Wednesday. Wells Fargo & Company reduced their price objective on RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday. Jefferies Financial Group began coverage on RxSight in a research report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price on the stock. Finally, UBS Group initiated coverage on RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.63.

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.