RxSight (NASDAQ:RXST) Announces Quarterly Earnings Results

RxSight (NASDAQ:RXST - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.25), Zacks reports. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The company had revenue of $40.21 million for the quarter, compared to the consensus estimate of $40.23 million.

RxSight Stock Performance

Shares of RxSight stock traded up $0.15 during trading hours on Friday, reaching $28.36. The company's stock had a trading volume of 620,965 shares, compared to its average volume of 634,789. The company's 50 day simple moving average is $32.31 and its 200 day simple moving average is $43.10. RxSight has a one year low of $26.29 and a one year high of $66.54. The stock has a market cap of $1.14 billion, a P/E ratio of -34.17 and a beta of 1.19.

Insider Transactions at RxSight

In related news, Director Shweta Maniar sold 3,519 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the sale, the director now owns 7,383 shares of the company's stock, valued at $227,913.21. This trade represents a 32.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jesse Anderson Corley acquired 1,443 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was purchased at an average cost of $31.18 per share, for a total transaction of $44,992.74. Following the acquisition, the director now owns 1,443 shares in the company, valued at approximately $44,992.74. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 9.36% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company reduced their price objective on shares of RxSight from $40.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Stifel Nicolaus reduced their price objective on shares of RxSight from $35.00 to $33.00 and set a "hold" rating on the stock in a research note on Wednesday. UBS Group assumed coverage on shares of RxSight in a research note on Friday, December 6th. They set a "buy" rating and a $52.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of RxSight from $62.00 to $40.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $43.00 price objective on shares of RxSight in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.63.

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.