RxSight (NASDAQ:RXST) COO Ilya Goldshleger Sells 2,041 Shares of Stock

RxSight, Inc. (NASDAQ:RXST) COO Ilya Goldshleger sold 2,041 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total value of $14,205.36. Following the completion of the transaction, the chief operating officer directly owned 81,509 shares of the company’s stock, valued at approximately $567,302.64. This trade represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Stock Performance

Shares of RXST stock opened at $7.03 on Thursday. The stock’s fifty day moving average is $5.95 and its 200-day moving average is $6.35. The stock has a market capitalization of $292.40 million, a PE ratio of -6.22 and a beta of 1.16. RxSight, Inc. has a 52 week low of $4.48 and a 52 week high of $13.22.

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

Hedge Funds Weigh In On RxSight

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in RxSight during the 2nd quarter worth approximately $27,910,000. Millennium Management LLC boosted its stake 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 purchasing an additional 1,241,885 shares during the period. Artisan Partners Limited Partnership grew its holdings in RxSight by 23.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,157,264 shares of the company’s stock valued at $22,479,000 after buying an additional 403,581 shares in the last quarter. No Street GP LP increased its position in RxSight by 35.4% during the 3rd quarter. No Street GP LP now owns 1,625,000 shares of the company’s stock worth $14,609,000 after buying an additional 425,000 shares during the period. Finally, Bank of America Corp DE increased its position in RxSight by 30.3% during the 1st quarter. Bank of America Corp DE now owns 1,210,039 shares of the company’s stock worth $7,454,000 after buying an additional 281,426 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings downgraded shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Stifel Nicolaus reduced their price target on shares of RxSight from $8.00 to $7.00 and set a “hold” rating for the company in a report on Monday, August 10th. Wall Street Zen downgraded shares of RxSight from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Wells Fargo & Company dropped their price objective on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of RxSight in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, RxSight currently has a consensus rating of “Reduce” and a consensus target price of $8.37.

RxSight Company Profile

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.