Insider Selling: RxSight, Inc. (NASDAQ:RXST) CFO Sells 20,000 Shares of Stock

RxSight, Inc. (NASDAQ:RXST - Get Free Report) CFO Shelley B. Thunen sold 20,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $49.90, for a total value of $998,000.00. Following the completion of the sale, the chief financial officer now owns 8,402 shares of the company's stock, valued at $419,259.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

RxSight Stock Down 0.1 %

Shares of RXST stock traded down $0.05 on Tuesday, hitting $50.42. The company had a trading volume of 494,075 shares, compared to its average volume of 459,638. RxSight, Inc. has a twelve month low of $16.15 and a twelve month high of $58.21. The firm has a market cap of $1.87 billion, a P/E ratio of -35.26 and a beta of 1.22. The company has a 50-day moving average price of $50.96 and a 200-day moving average price of $38.61.

RxSight (NASDAQ:RXST - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.10. The company had revenue of $28.58 million for the quarter, compared to analyst estimates of $28.60 million. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. Equities research analysts expect that RxSight, Inc. will post -0.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RXST shares. Stifel Nicolaus upped their price target on shares of RxSight from $54.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. Needham & Company LLC lifted their price target on RxSight from $53.00 to $64.00 and gave the stock a "buy" rating in a research report on Thursday, February 29th. Wells Fargo & Company upgraded RxSight from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $31.00 to $42.00 in a research note on Wednesday, December 13th. Oppenheimer raised their price objective on RxSight from $54.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, February 29th. Finally, Morgan Stanley started coverage on RxSight in a report on Monday, December 4th. They set an "overweight" rating and a $36.00 target price for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $49.63.

Hedge Funds Weigh In On RxSight

Large investors have recently bought and sold shares of the business. RiverPark Advisors LLC lifted its position in shares of RxSight by 70.0% in the fourth quarter. RiverPark Advisors LLC now owns 668 shares of the company's stock valued at $27,000 after acquiring an additional 275 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in RxSight in the 4th quarter valued at about $27,000. BluePath Capital Management LLC acquired a new position in RxSight in the third quarter valued at about $32,000. UBS Group AG boosted its stake in RxSight by 413.6% during the fourth quarter. UBS Group AG now owns 5,388 shares of the company's stock worth $68,000 after buying an additional 4,339 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of RxSight during the third quarter valued at about $69,000. Institutional investors and hedge funds own 78.78% of the company's stock.

About RxSight

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.