RxSight (NASDAQ:RXST) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

RxSight (NASDAQ:RXST) posted its earnings results on Monday. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.08), Briefing.com reports. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The firm had revenue of $29.51 million during the quarter, compared to analysts’ expectations of $27.56 million. During the same period in the previous year, the firm posted ($0.42) earnings per share. The firm’s revenue for the quarter was up 68.7% on a year-over-year basis. RxSight updated its FY 2024 guidance to EPS.

RxSight Stock Down 1.0 %

Shares of RXST opened at $62.19 on Wednesday. The firm has a market cap of $2.30 billion, a PE ratio of -43.49 and a beta of 1.21. The company’s fifty day moving average is $52.86 and its two-hundred day moving average is $43.32. RxSight has a fifty-two week low of $18.35 and a fifty-two week high of $66.54.

Insider Activity at RxSight

In other news, CFO Shelley B. Thunen sold 20,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $49.90, for a total transaction of $998,000.00. Following the completion of the sale, the chief financial officer now owns 8,402 shares in the company, valued at approximately $419,259.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RxSight news, CFO Shelley B. Thunen sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $49.90, for a total value of $998,000.00. Following the completion of the transaction, the chief financial officer now owns 8,402 shares in the company, valued at approximately $419,259.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bakker Juliet Tammenoms purchased 4,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was bought at an average price of $50.38 per share, with a total value of $201,520.00. Following the acquisition, the director now owns 25,840 shares in the company, valued at $1,301,819.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 90,365 shares of company stock worth $5,020,520. 21.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RXST shares. Stifel Nicolaus boosted their target price on RxSight from $64.00 to $68.00 and gave the company a “buy” rating in a report on Monday. Oppenheimer increased their price target on RxSight from $61.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Needham & Company LLC increased their price target on RxSight from $64.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company increased their price target on RxSight from $61.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus 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.