Mark Wilterding Sells 7,765 Shares of RxSight (NASDAQ:RXST) Stock

RxSight, Inc. (NASDAQ:RXST) CFO Mark Wilterding sold 7,765 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total transaction of $54,044.40. Following the sale, the chief financial officer directly owned 25,049 shares of the company’s stock, valued at $174,341.04. The trade was a 23.66% decrease in their position. The sale was disclosed in a document filed 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 Stock Down 7.0%

Shares of RxSight stock opened at $6.54 on Friday. The company’s fifty day simple moving average is $5.98 and its two-hundred day simple moving average is $6.34. RxSight, Inc. has a 12-month low of $4.48 and a 12-month high of $13.22. The firm has a market cap of $272.00 million, a PE ratio of -5.79 and a beta of 1.16.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RXST. Jefferies Financial Group set a $6.50 price objective on RxSight in a research report on Tuesday, July 7th. Weiss Ratings downgraded RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. UBS Group raised their price target on RxSight from $5.50 to $6.30 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Stifel Nicolaus cut their price target on shares of RxSight from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Monday, August 10th. Finally, Wells Fargo & Company reduced their price objective on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $8.37.

Institutional Trading of RxSight

Several large investors have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of RxSight in the 2nd quarter worth approximately $28,000. Summit Securities Group LLC bought a new stake in shares of RxSight during the first quarter valued at approximately $30,000. Larson Financial Group LLC boosted its position in shares of RxSight by 110.5% during the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after purchasing an additional 2,089 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in RxSight by 440.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock worth $39,000 after purchasing an additional 3,063 shares during the period. Finally, CWM LLC grew its stake in RxSight by 211.1% in the fourth quarter. CWM LLC now owns 3,826 shares of the company’s stock worth $40,000 after purchasing an additional 2,596 shares during the period. 78.78% of the stock is owned by institutional investors.

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.