RxSight (NASDAQ:RXST) Shares Down 3.1%

RxSight, Inc. (NASDAQ:RXST - Get Free Report) shares fell 3.1% on Friday . The stock traded as low as $59.97 and last traded at $60.32. 77,112 shares traded hands during trading, a decline of 83% from the average session volume of 445,570 shares. The stock had previously closed at $62.26.

Analyst Ratings Changes

RXST has been the topic of a number of recent research reports. Stifel Nicolaus raised their target price on shares of RxSight from $64.00 to $68.00 and gave the stock a "buy" rating in a report on Monday, May 6th. BTIG Research raised their price target on RxSight from $61.00 to $72.00 and gave the stock a "buy" rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. upped their price objective on RxSight from $40.00 to $62.00 and gave the stock an "overweight" rating in a research note on Thursday, February 29th. Wells Fargo & Company increased their target price on RxSight from $61.00 to $68.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 7th. Finally, Needham & Company LLC boosted their price target on shares of RxSight from $64.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, May 7th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, RxSight has a consensus rating of "Buy" and an average price target of $60.63.

RxSight Trading Down 2.6 %

The firm has a 50-day moving average of $53.79 and a 200 day moving average of $45.16. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -48.17 and a beta of 1.21.

RxSight (NASDAQ:RXST - Get Free Report) last announced its earnings results on Monday, May 6th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.08). The business had revenue of $29.51 million for the quarter, compared to the consensus estimate of $27.56 million. RxSight had a negative net margin of 44.01% and a negative return on equity of 27.68%. The firm's revenue was up 68.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.42) EPS. Equities research analysts predict that RxSight, Inc. will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling at RxSight

In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of RxSight stock in a transaction on Friday, March 1st. The stock was sold at an average price of $56.37, for a total transaction of $563,700.00. Following the sale, the chief financial officer now owns 13,691 shares of the company's stock, valued at approximately $771,761.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Ronald M. Md Kurtz sold 40,000 shares of RxSight stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the transaction, the chief executive officer now directly owns 764,610 shares in the company, valued at approximately $45,991,291.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Shelley B. Thunen sold 10,000 shares of RxSight stock in a transaction on Friday, March 1st. The shares were sold at an average price of $56.37, for a total value of $563,700.00. Following the transaction, the chief financial officer now owns 13,691 shares in the company, valued at $771,761.67. The disclosure for this sale can be found here. Insiders have sold 80,000 shares of company stock valued at $4,494,600 in the last quarter. Corporate insiders own 21.13% of the company's stock.

Hedge Funds Weigh In On RxSight

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of RxSight by 3.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 106,203 shares of the company's stock worth $2,962,000 after acquiring an additional 3,132 shares during the last quarter. TD Asset Management Inc acquired a new position in shares of RxSight in the 3rd quarter worth $293,000. Allspring Global Investments Holdings LLC grew its holdings in shares of RxSight by 263.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 243,346 shares of the company's stock worth $6,787,000 after acquiring an additional 176,451 shares during the last quarter. Lisanti Capital Growth LLC grew its holdings in shares of RxSight by 108.6% in the 3rd quarter. Lisanti Capital Growth LLC now owns 123,205 shares of the company's stock worth $3,436,000 after acquiring an additional 64,130 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of RxSight in the 3rd quarter worth $3,432,000. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.