RxSight (NASDAQ:RXST) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

RxSight (NASDAQ:RXST) posted its quarterly earnings data on Monday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.08), Briefing.com reports. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The company had revenue of $29.51 million for the quarter, compared to analyst estimates of $27.56 million. During the same quarter last year, the company earned ($0.42) EPS. The business’s revenue was up 68.7% compared to the same quarter last year. RxSight updated its FY 2024 guidance to EPS.

RxSight Trading Down 3.3 %

RxSight stock traded down $2.02 during mid-day trading on Thursday, hitting $58.64. The company had a trading volume of 684,203 shares, compared to its average volume of 437,919. RxSight has a 12-month low of $19.90 and a 12-month high of $66.54. The company’s fifty day moving average is $53.03 and its 200-day moving average is $43.71. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -42.42 and a beta of 1.21.

Insiders Place Their Bets

In other news, 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 transaction of $2,406,000.00. Following the transaction, the chief executive officer now owns 764,610 shares in the company, valued at approximately $45,991,291.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, 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 transaction of $2,406,000.00. Following the transaction, the chief executive officer now owns 764,610 shares in the company, valued at approximately $45,991,291.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Shelley B. Thunen sold 20,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $49.90, for a total value of $998,000.00. Following the transaction, the chief financial officer now owns 8,402 shares in the company, valued at approximately $419,259.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,365 shares of company stock worth $5,020,520. Corporate insiders own 21.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of RxSight from $61.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday. Needham & Company LLC increased their price target on shares of RxSight from $64.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Stifel Nicolaus increased their price target on shares of RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Monday. Finally, BTIG Research increased their price target on shares of RxSight from $61.00 to $72.00 and gave the stock 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 company presently has an average rating of “Buy” and a consensus price target of $60.63.

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.