RxSight (NASDAQ:RXST) CFO Sells 7,765 Shares

Key Points

• RxSight CFO Mark Wilterding sold 7,765 shares at an average price of $6.96, generating $54,044.40. The sale covered tax-withholding obligations tied to vested equity awards and reduced his holdings by 23.66% to 25,049 shares.
• RxSight shares recently traded around $7.03, while the company reported quarterly revenue of $33.74 million and an adjusted loss of $0.29 per share, beating analyst estimates on both measures.
• Analyst sentiment remains cautious, with the stock carrying a consensus “Reduce” rating and an average price target of $8.37; institutional investors own approximately 78.78% of the company.

RxSight, Inc. (NASDAQ:RXST - Get Free Report) 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 transaction of $54,044.40. Following the transaction, the chief financial officer owned 25,049 shares in the company, valued at approximately $174,341.04. The trade was a 23.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Price Performance

Shares of NASDAQ RXST traded up $0.04 during mid-day trading on Wednesday, hitting $7.03. The company had a trading volume of 778,865 shares, compared to its average volume of 898,096. The business's 50-day simple moving average is $5.95 and its 200-day simple moving average is $6.35. RxSight, Inc. has a 12 month low of $4.48 and a 12 month high of $13.22. The firm has a market cap of $292.40 million, a P/E ratio of -6.22 and a beta of 1.16.

RxSight (NASDAQ:RXST - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.04. The firm had revenue of $33.74 million for the quarter, compared to analyst estimates 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, sell-side analysts predict that RxSight, Inc. will post -1.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Weiss Ratings lowered RxSight from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, June 11th. Wells Fargo & Company decreased their price target on shares of RxSight from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 7th. UBS Group boosted their price target on shares of RxSight from $5.50 to $6.30 and gave the company a "neutral" rating in a report on Thursday, August 6th. Bank of America dropped their price objective 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 price objective on shares of RxSight in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $8.37.

Institutional Investors Weigh In On RxSight

Several large investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of RxSight in the second quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd boosted its position in RxSight by 440.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company's stock valued at $39,000 after buying an additional 3,063 shares during the last quarter. CWM LLC increased its stake in shares of RxSight by 211.1% in the 4th quarter. CWM LLC now owns 3,826 shares of the company's stock valued at $40,000 after buying an additional 2,596 shares during the period. Larson Financial Group LLC increased its stake in shares of 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 buying an additional 2,089 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of RxSight during the first quarter worth $30,000. Institutional investors own 78.78% of the company's stock.

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.

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