RxSight (NASDAQ:RXST) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

RxSight (NASDAQ:RXST) announced its quarterly earnings results on Monday. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.06, Briefing.com reports. The business had revenue of $34.89 million during the quarter, compared to analyst estimates of $32.33 million. RxSight had a negative net margin of 44.01% and a negative return on equity of 27.68%. RxSight’s quarterly revenue was up 67.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.40) EPS.

RxSight Trading Down 0.2 %

Shares of NASDAQ:RXST traded down $0.11 during midday trading on Wednesday, reaching $47.74. The company had a trading volume of 314,778 shares, compared to its average volume of 489,279. The company’s 50 day moving average price is $53.18 and its 200 day moving average price is $53.45. The stock has a market cap of $1.77 billion, a P/E ratio of -37.98 and a beta of 1.19. RxSight has a 52-week low of $20.66 and a 52-week high of $66.54.

Analyst Upgrades and Downgrades

RXST has been the subject of a number of recent research reports. Needham & Company LLC decreased their price target on shares of RxSight from $75.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday. Oppenheimer decreased their price target on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday. Stifel Nicolaus decreased their price target on shares of RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday. BTIG Research boosted their price target on shares of RxSight from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Wells Fargo & Company cut their price objective on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $58.43.

Insider Buying and Selling

In other RxSight news, Director Julie Andrews sold 15,625 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $58.00, for a total transaction of $906,250.00. Following the sale, the director now directly owns 30,287 shares of the company’s stock, valued at $1,756,646. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $58.61, for a total value of $586,100.00. Following the transaction, the chief financial officer now directly owns 13,938 shares in the company, valued at $816,906.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Julie Andrews sold 15,625 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $58.00, for a total value of $906,250.00. Following the completion of the sale, the director now directly owns 30,287 shares of the company’s stock, valued at approximately $1,756,646. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,625 shares of company stock valued at $1,845,600. 9.36% of the stock is owned by insiders.

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.