RxSight (NASDAQ:RXST) Releases Quarterly Earnings Results, Misses Estimates By $0.25 EPS

RxSight (NASDAQ:RXST) posted its quarterly earnings results on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.25), Zacks reports. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%.

RxSight Stock Down 0.3 %

NASDAQ:RXST traded down $0.08 during midday trading on Tuesday, hitting $29.21. The stock had a trading volume of 696,954 shares, compared to its average volume of 605,940. The stock has a 50-day moving average of $32.96 and a 200 day moving average of $43.62. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -35.19 and a beta of 1.19. RxSight has a one year low of $26.29 and a one year high of $66.54.

Insider Activity

In other RxSight news, Director Jesse Anderson Corley acquired 1,443 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was purchased at an average price of $31.18 per share, for a total transaction of $44,992.74. Following the acquisition, the director now owns 1,443 shares in the company, valued at approximately $44,992.74. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ilya Goldshleger sold 3,105 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $46.08, for a total value of $143,078.40. Following the completion of the sale, the insider now owns 42,246 shares of the company’s stock, valued at approximately $1,946,695.68. This trade represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RXST shares. Wells Fargo & Company dropped their price objective on RxSight from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price target on shares of RxSight in a report on Monday, January 13th. Jefferies Financial Group initiated coverage on shares of RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective for the company. UBS Group began coverage on shares of RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 price objective on the stock. Finally, Stifel Nicolaus cut their target price on shares of RxSight from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, RxSight currently has a consensus rating of “Moderate Buy” and an average price target of $58.13.

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.