RxSight (RXST) Expected to Announce Earnings on Wednesday

RxSight (NASDAQ:RXST) is expected to be announcing its earnings results after the market closes on Wednesday, May 7th. Analysts expect the company to announce earnings of ($0.03) per share and revenue of $38.74 million for the quarter.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). The company had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. On average, analysts expect RxSight to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

RxSight Stock Up 4.7 %

RXST opened at $15.24 on Wednesday. The stock has a market cap of $619.05 million, a PE ratio of -18.36 and a beta of 1.26. The business has a 50 day moving average of $21.52 and a 200-day moving average of $33.37. RxSight has a 52 week low of $13.50 and a 52 week high of $66.54.

Insider Buying and Selling

In other RxSight news, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the sale, the director now owns 24,793 shares of the company’s stock, valued at $637,428.03. The trade was a 22.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on RXST. Piper Sandler started coverage on RxSight in a report on Tuesday, April 15th. They issued a “neutral” rating and a $18.00 target price on the stock. Stifel Nicolaus lowered their target price on shares of RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, March 19th. UBS Group downgraded RxSight from a “buy” rating to a “neutral” rating and lowered their target price for the company from $45.00 to $16.00 in a report on Wednesday, April 9th. Needham & Company LLC restated a “buy” rating and set a $43.00 target price on shares of RxSight in a research report on Thursday, April 3rd. Finally, Bank of America restated an “underperform” rating and issued a $22.00 price objective (down from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.60.

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.