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

RxSight, Inc. (NASDAQ:RXST) CEO Ronald M. Md Kurtz sold 40,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $60.15, for a total value of $2,406,000.00. Following the completion of the sale, the chief executive officer now owns 764,610 shares of the company’s stock, valued at $45,991,291.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

RxSight Price Performance

RXST opened at $62.19 on Wednesday. The company’s 50-day moving average is $52.86 and its 200 day moving average is $43.32. RxSight, Inc. has a fifty-two week low of $18.35 and a fifty-two week high of $66.54. The firm has a market capitalization of $2.30 billion, a P/E ratio of -43.49 and a beta of 1.21.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $27.56 million. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The business’s revenue was up 68.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.42) earnings per share. On average, equities research analysts expect that RxSight, Inc. will post -0.94 earnings per share for the current year.

Institutional Trading of RxSight

A number of institutional investors and hedge funds have recently modified their holdings of RXST. Artisan Partners Limited Partnership grew its position in RxSight by 17.3% during 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. Vanguard Group Inc. grew its position in RxSight by 21.6% during the third quarter. Vanguard Group Inc. now owns 1,433,953 shares of the company’s stock valued at $39,993,000 after buying an additional 255,150 shares during the period. Great Lakes Advisors LLC bought a new position in RxSight during the fourth quarter valued at about $8,226,000. Lord Abbett & CO. LLC lifted its stake in RxSight by 13.8% in the third quarter. Lord Abbett & CO. LLC now owns 1,628,320 shares of the company’s stock valued at $45,414,000 after purchasing an additional 197,099 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in 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 purchasing an additional 176,451 shares during the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on RxSight from $40.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Needham & Company LLC lifted their price objective on shares of RxSight from $64.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday. BTIG Research boosted 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. Oppenheimer raised their price target on shares of RxSight from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Stifel Nicolaus lifted their price target on RxSight from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Monday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price 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.