Tamara Fountain Sells 7,000 Shares of RxSight, Inc. (NASDAQ:RXST) Stock

RxSight, Inc. (NASDAQ:RXST) Director Tamara Fountain sold 7,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the sale, the director now owns 24,793 shares of the company’s stock, valued at $637,428.03. The trade was a 22.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

RxSight Trading Up 2.5 %

Shares of NASDAQ:RXST opened at $25.84 on Friday. RxSight, Inc. has a 1-year low of $24.64 and a 1-year high of $66.54. The firm has a market capitalization of $1.05 billion, a PE ratio of -31.13 and a beta of 1.22. The business’s 50 day moving average is $30.56 and its 200-day moving average is $41.20.

RxSight (NASDAQ:RXST) last posted its earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). The business had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. On average, sell-side analysts predict that RxSight, Inc. will post -0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RXST shares. Wells Fargo & Company dropped their target price on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus cut their price objective on RxSight from $35.00 to $33.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. UBS Group assumed coverage on RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 target price for the company. JPMorgan Chase & Co. dropped their price target on RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $43.00 price target on shares of RxSight in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.63.

Hedge Funds Weigh In On RxSight

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in RxSight by 0.7% in the third quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock valued at $1,782,000 after acquiring an additional 240 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of RxSight in the 3rd quarter worth about $988,000. Baillie Gifford & Co. increased its position in shares of RxSight by 17.0% during the 3rd quarter. Baillie Gifford & Co. now owns 419,004 shares of the company’s stock worth $20,711,000 after purchasing an additional 60,789 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in RxSight by 21.0% during the 3rd quarter. Victory Capital Management Inc. now owns 259,864 shares of the company’s stock valued at $12,845,000 after purchasing an additional 45,161 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in RxSight by 15.6% in the third quarter. Oppenheimer & Co. Inc. now owns 6,099 shares of the company’s stock valued at $301,000 after buying an additional 823 shares in the last quarter. Institutional investors 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.