RxSight (NASDAQ:RXST) CFO Mark Wilterding Sells 7,765 Shares of Stock

RxSight, Inc. (NASDAQ:RXST) CFO Mark Wilterding sold 7,765 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total value of $54,044.40. Following the sale, the chief financial officer directly owned 25,049 shares of the company’s stock, valued at $174,341.04. This represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Stock Performance

RxSight stock traded up $0.04 during trading hours on Wednesday, reaching $7.03. 778,865 shares of the company’s stock traded hands, compared to its average volume of 898,096. The firm has a market capitalization of $292.40 million, a price-to-earnings ratio of -6.22 and a beta of 1.16. RxSight, Inc. has a fifty-two week low of $4.48 and a fifty-two week high of $13.22. The firm’s 50 day moving average is $5.95 and its 200-day moving average is $6.35.

RxSight (NASDAQ:RXST) last posted its quarterly 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. The business had revenue of $33.74 million during the quarter, compared to the consensus estimate of $32.55 million. RxSight had a negative net margin of 36.80% and a negative return on equity of 17.35%. Analysts predict that RxSight, Inc. will post -1.01 EPS for the current year.

Wall Street Analyst Weigh In

RXST has been the subject of several recent research reports. UBS Group upped their target price on shares of 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 price target on RxSight from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Monday, August 10th. Weiss Ratings cut RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Bank of America dropped their price objective on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a report on Tuesday, July 7th. Finally, Jefferies Financial Group set a $6.50 target price on RxSight in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, RxSight presently has a consensus rating of “Reduce” and a consensus price target of $8.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RXST. Raymond James Financial Inc. bought a new position in shares of RxSight during the second quarter worth about $28,000. Summit Securities Group LLC bought a new stake in RxSight in the 1st quarter valued at approximately $30,000. Larson Financial Group LLC lifted 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 valued at $36,000 after acquiring an additional 2,089 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in RxSight by 440.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock worth $39,000 after acquiring an additional 3,063 shares during the last quarter. Finally, CWM LLC boosted its position in RxSight by 211.1% during the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock worth $40,000 after acquiring an additional 2,596 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors.

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.