RxSight (NASDAQ:RXST) Insider Ronald Md Kurtz Sells 5,100 Shares of Stock

RxSight, Inc. (NASDAQ:RXST) insider Ronald Md Kurtz sold 5,100 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total value of $35,496.00. Following the sale, the insider directly owned 71,775 shares in the company, valued at $499,554. The trade was a 6.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Price Performance

Shares of RXST stock opened at $7.03 on Thursday. RxSight, Inc. has a 1 year low of $4.48 and a 1 year high of $13.22. The stock’s 50 day simple moving average is $5.95 and its two-hundred day simple moving average is $6.35. The company has a market cap of $292.40 million, a PE ratio of -6.22 and a beta of 1.16.

RxSight (NASDAQ:RXST) last announced its earnings results on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. The firm had revenue of $33.74 million during the quarter, compared to analysts’ expectations of $32.55 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. Equities research analysts expect that RxSight, Inc. will post -1.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of RxSight in a research note on Tuesday, July 7th. Wells Fargo & Company reduced their target price on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th. UBS Group raised their target price on shares of RxSight from $5.50 to $6.30 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Bank of America dropped their price target on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Finally, Wall Street Zen downgraded shares of RxSight from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, RxSight currently has an average rating of “Reduce” and a consensus price target of $8.37.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RXST. BlackRock Inc. purchased a new position in RxSight in the 2nd quarter worth about $27,910,000. Millennium Management LLC boosted its position in RxSight by 130.6% in the 3rd quarter. Millennium Management LLC now owns 2,193,062 shares of the company’s stock valued at $19,716,000 after buying an additional 1,241,885 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in RxSight by 761.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,131,400 shares of the company’s stock valued at $6,969,000 after buying an additional 1,000,000 shares during the period. Grandeur Peak Global Advisors LLC bought a new position in RxSight in the 2nd quarter worth about $3,482,000. Finally, Bank of America Corp DE grew its stake in RxSight by 406.0% in the 3rd quarter. Bank of America Corp DE now owns 722,435 shares of the company’s stock worth $6,495,000 after acquiring an additional 579,653 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors.

About RxSight

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non?invasive post?operative adjustments. Using ultraviolet light, surgeons can fine?tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.