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

RxSight, Inc. (NASDAQ:RXST) CFO Mark Wilterding sold 7,765 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was 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 approximately $174,341.04. This trade represents a 23.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Stock Performance

NASDAQ RXST opened at $7.03 on Thursday. RxSight, Inc. has a one year low of $4.48 and a one year high of $13.22. The company’s 50 day moving average price is $5.95 and its 200 day moving average price is $6.35. The firm has a market capitalization of $292.40 million, a price-to-earnings ratio of -6.22 and a beta of 1.16.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on RXST. Wall Street Zen cut shares of RxSight from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Wells Fargo & Company cut their price objective on RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of RxSight in a research note on Tuesday, July 7th. Bank of America decreased their target price on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research report on Tuesday, July 7th. Finally, Weiss Ratings lowered RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $8.37.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in RxSight during the 2nd quarter valued at $28,000. Caitong International Asset Management Co. Ltd lifted its holdings in RxSight by 440.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock worth $39,000 after buying an additional 3,063 shares in the last quarter. CWM LLC lifted its holdings in RxSight by 211.1% in the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock worth $40,000 after buying an additional 2,596 shares in the last quarter. Larson Financial Group LLC lifted its holdings in RxSight by 110.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock worth $36,000 after buying an additional 2,089 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in RxSight in the 1st quarter valued at about $30,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

About RxSight

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.