RxSight, Inc. (NASDAQ:RXST) CEO Ronald M. Md Kurtz Sells 40,000 Shares of Stock

RxSight, Inc. (NASDAQ:RXST) CEO Ronald M. Md Kurtz sold 40,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 764,610 shares of the company’s stock, valued at $45,991,291.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

RxSight Stock Up 1.9 %

RXST stock opened at $62.84 on Tuesday. RxSight, Inc. has a twelve month low of $18.35 and a twelve month high of $64.92. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -43.94 and a beta of 1.21. The business has a 50 day moving average price of $52.73 and a two-hundred day moving average price of $43.06.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.10. The firm had revenue of $28.58 million for the quarter, compared to analyst estimates of $28.60 million. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. On average, equities research analysts anticipate that RxSight, Inc. will post -0.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on RXST shares. Stifel Nicolaus raised their price objective on shares of RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price objective on shares of RxSight in a report on Thursday, April 11th. Finally, Oppenheimer boosted their target price on RxSight from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, RxSight presently has an average rating of “Buy” and a consensus price target of $50.13.

Institutional Investors Weigh In On RxSight

Institutional investors and hedge funds have recently modified their holdings of the company. Lisanti Capital Growth LLC raised its stake in RxSight by 108.6% in the third quarter. Lisanti Capital Growth LLC now owns 123,205 shares of the company’s stock valued at $3,436,000 after buying an additional 64,130 shares during the period. Trexquant Investment LP raised its stake in RxSight by 82.9% in the 3rd quarter. Trexquant Investment LP now owns 47,230 shares of the company’s stock valued at $1,317,000 after acquiring an additional 21,401 shares during the period. Vanguard Group Inc. lifted its holdings in RxSight by 21.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,433,953 shares of the company’s stock valued at $39,993,000 after purchasing an additional 255,150 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of RxSight by 263.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 243,346 shares of the company’s stock valued at $6,787,000 after buying an additional 176,451 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of RxSight by 17.3% in the third quarter. Artisan Partners Limited Partnership now owns 2,437,765 shares of the company’s stock valued at $67,989,000 after buying an additional 359,295 shares during the period. 78.78% of the stock is owned by institutional investors.

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.