RxSight (NASDAQ:RXST) Insider Ronald Md Kurtz Sells 5,100 Shares

Key Points

• Insider sale: Ronald Md Kurtz sold 5,100 RxSight shares at an average price of $6.96, totaling $35,496. The sale covered tax withholding obligations, reducing his stake by 6.63% to 71,775 shares.
• Latest results: RxSight reported a quarterly loss of $0.29 per share, beating estimates of $0.33, while revenue of $33.74 million exceeded the $32.55 million consensus. The company remains unprofitable, with analysts expecting a full-year loss of $1.01 per share.
• Mixed analyst outlook: RxSight has a consensus “Reduce” rating and an average price target of $8.37, with two Buy, seven Hold, and three Sell ratings. Institutional investors own 78.78% of the company, including a new $27.9 million position from BlackRock.

RxSight, Inc. (NASDAQ:RXST - Get Free Report) insider Ronald Md Kurtz sold 5,100 shares of RxSight stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total value of $35,496.00. Following the transaction, the insider owned 71,775 shares of the company's stock, valued at $499,554. The trade was a 6.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Trading Up 0.6%

RxSight stock 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. RxSight, Inc. has a 12 month low of $4.48 and a 12 month high of $13.22. The company has a market capitalization of $292.40 million, a PE ratio of -6.22 and a beta of 1.16. The stock's 50 day moving average price is $5.95 and its two-hundred day moving average price is $6.35.

RxSight (NASDAQ:RXST - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.04. The firm had revenue of $33.74 million during the quarter, compared to the consensus estimate of $32.55 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. Equities research analysts anticipate that RxSight, Inc. will post -1.01 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RXST. UBS Group upped their target price on shares of RxSight from $5.50 to $6.30 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. Bank of America reduced their price target on shares of RxSight from $8.00 to $6.50 and set an "underperform" rating for the company in a research report on Tuesday, July 7th. Wall Street Zen lowered shares of RxSight from a "hold" rating to a "sell" rating in a report on Saturday. Weiss Ratings cut RxSight from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, June 11th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $11.00 target price on shares of 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $8.37.

Hedge Funds Weigh In On RxSight

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in RxSight during the 2nd quarter valued at about $27,910,000. Millennium Management LLC grew its stake in shares of RxSight by 130.6% in the third quarter. Millennium Management LLC now owns 2,193,062 shares of the company's stock worth $19,716,000 after acquiring an additional 1,241,885 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of RxSight by 23.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,157,264 shares of the company's stock worth $22,479,000 after acquiring an additional 403,581 shares during the period. No Street GP LP raised its holdings in shares of RxSight by 35.4% during the third quarter. No Street GP LP now owns 1,625,000 shares of the company's stock valued at $14,609,000 after purchasing an additional 425,000 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of RxSight by 30.3% during the first quarter. Bank of America Corp DE now owns 1,210,039 shares of the company's stock valued at $7,454,000 after purchasing an additional 281,426 shares during the last quarter. Hedge funds and other 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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