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

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

RxSight Stock Performance

Shares of RXST stock traded down $0.85 on Thursday, hitting $25.22. The company’s stock had a trading volume of 291,254 shares, compared to its average volume of 528,134. The company has a market capitalization of $1.02 billion, a PE ratio of -30.39 and a beta of 1.22. RxSight, Inc. has a fifty-two week low of $24.64 and a fifty-two week high of $66.54. The stock’s 50 day moving average is $30.76 and its 200-day moving average is $41.40.

RxSight (NASDAQ:RXST) last posted its quarterly 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 company had revenue of $40.21 million during the quarter, compared to analyst estimates of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. On average, research analysts forecast that RxSight, Inc. will post -0.7 earnings per share for the current year.

Institutional Trading of RxSight

Several hedge funds have recently bought and sold shares of RXST. Principal Financial Group Inc. raised its stake in shares of RxSight by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock worth $1,782,000 after purchasing an additional 240 shares during the period. Quarry LP lifted its holdings in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after buying an additional 288 shares in the last quarter. Mountain Capital Investment Advisors Inc. lifted its holdings in shares of RxSight by 3.8% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock worth $302,000 after buying an additional 320 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of RxSight by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock worth $1,034,000 after purchasing an additional 399 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of RxSight by 1.7% in the fourth quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock worth $914,000 after purchasing an additional 445 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. 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. Stifel Nicolaus decreased 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. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price target on shares of RxSight in a research note on Wednesday, February 26th. Wells Fargo & Company cut their price objective on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their price objective on RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.63.

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.