RxSight (NASDAQ:RXST) Posts Earnings Results, Misses Expectations By $0.08 EPS

RxSight (NASDAQ:RXST) released its earnings results on Monday. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.08), Briefing.com reports. 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 54.57% and a negative return on equity of 31.16%. RxSight’s revenue for the quarter was up 68.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.42) EPS. RxSight updated its FY 2024 guidance to EPS.

RxSight Stock Down 0.0 %

Shares of RXST stock opened at $62.83 on Tuesday. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -45.17 and a beta of 1.21. The stock has a fifty day moving average of $52.73 and a 200 day moving average of $43.06. RxSight has a 52 week low of $18.35 and a 52 week high of $66.54.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RXST shares. Needham & Company LLC raised their price objective on RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus lifted their price target on RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday. Oppenheimer boosted their price objective on RxSight from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, BTIG Research upped their price target on shares of RxSight from $61.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $57.38.

Insider Activity at RxSight

In related news, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $56.37, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $56.37, for a total value of $563,700.00. Following the completion of the transaction, the chief financial officer now owns 13,691 shares in the company, valued at approximately $771,761.67. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $60.15, for a total value of $2,406,000.00. Following the completion of the sale, the chief executive officer now directly owns 764,610 shares in the company, valued at $45,991,291.50. The disclosure for this sale can be found here. Insiders have sold a total of 90,365 shares of company stock worth $5,020,520 over the last quarter. Corporate insiders own 21.13% 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.