RxSight (NASDAQ:RXST) Announces Quarterly Earnings Results, Beats Estimates By $0.15 EPS

RxSight (NASDAQ:RXST) posted its quarterly earnings results on Wednesday. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.15, FiscalAI reports. The firm had revenue of $30.34 million for the quarter, compared to the consensus estimate of $25.63 million. RxSight had a negative net margin of 25.15% and a negative return on equity of 12.78%. The business’s revenue was down 31.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.16) earnings per share. RxSight updated its FY 2025 guidance to EPS.

RxSight Stock Up 8.8%

NASDAQ:RXST traded up $0.76 during mid-day trading on Friday, reaching $9.37. 1,008,025 shares of the company were exchanged, compared to its average volume of 989,913. The stock has a market cap of $383.42 million, a PE ratio of -10.65 and a beta of 1.16. RxSight has a 12 month low of $6.32 and a 12 month high of $49.25. The company has a fifty day moving average of $8.78 and a 200 day moving average of $10.81.

Institutional Trading of RxSight

Several institutional investors and hedge funds have recently added to or reduced their stakes in RXST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of RxSight by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock worth $552,000 after purchasing an additional 1,232 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of RxSight by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock valued at $7,838,000 after acquiring an additional 113,767 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of RxSight by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company’s stock valued at $2,358,000 after acquiring an additional 8,424 shares during the period. Creative Planning bought a new position in RxSight during the 2nd quarter worth approximately $207,000. Finally, Legal & General Group Plc boosted its stake in RxSight by 5.0% during the 2nd quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock worth $579,000 after acquiring an additional 2,121 shares during the last quarter. 78.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RXST has been the subject of a number of analyst reports. Zacks Research raised shares of RxSight from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. Jefferies Financial Group restated a “hold” rating and set a $9.00 price target (down previously from $24.00) on shares of RxSight in a research note on Thursday, July 10th. Morgan Stanley downgraded RxSight from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $20.00 to $9.00 in a report on Tuesday, July 15th. Wells Fargo & Company increased their target price on RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Wall Street Zen downgraded RxSight from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $9.56.

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.