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

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

RxSight Stock Performance

RXST stock opened at $60.66 on Thursday. The firm has a fifty day moving average price of $52.95 and a 200 day moving average price of $43.59. RxSight, Inc. has a fifty-two week low of $18.72 and a fifty-two week high of $66.54. The firm has a market cap of $2.24 billion, a PE ratio of -42.42 and a beta of 1.21.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). The business had revenue of $29.51 million during the quarter, compared to analysts’ expectations of $27.56 million. RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. The business’s quarterly revenue was up 68.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.42) earnings per share. On average, equities analysts predict that RxSight, Inc. will post -0.94 EPS for the current year.

Institutional Investors Weigh In On RxSight

Several institutional investors have recently modified their holdings of the stock. Entropy Technologies LP lifted its position in RxSight by 67.2% in the first quarter. Entropy Technologies LP now owns 13,437 shares of the company’s stock worth $693,000 after buying an additional 5,399 shares during the last quarter. Doheny Asset Management CA bought a new stake in shares of RxSight in the 1st quarter worth about $493,000. ProShare Advisors LLC purchased a new position in shares of RxSight during the 1st quarter worth about $263,000. Inspire Investing LLC bought a new position in RxSight during the 1st quarter valued at about $917,000. Finally, Swiss National Bank raised its position in RxSight by 16.2% in the 1st quarter. Swiss National Bank now owns 53,100 shares of the company’s stock worth $2,739,000 after purchasing an additional 7,400 shares during the period. 78.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RXST shares. Oppenheimer increased their price target on RxSight from $61.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday. Needham & Company LLC lifted their target price on RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company upped their price target on RxSight from $61.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on shares of RxSight from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Monday. Finally, BTIG Research upped their target price on shares of RxSight from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $60.63.

RxSight Company Profile

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.