Ilya Goldshleger, Co-President and Chief Operating Officer of RxSight, Inc. (NASDAQ:RXST), recently executed stock transactions involving the company's common stock. According to a recent SEC filing, Goldshleger sold a total of 3,100 shares, generating approximately $158,247. The sales were conducted at prices ranging from $50.9843 to $51.7372 per share.
The transactions were part of a pre-established Rule 10b5-1 trading plan, which Goldshleger adopted in June 2024. Following these sales, Goldshleger holds 42,246 shares of RxSight directly. Additionally, he acquired 3,100 shares through stock option exercises at a price of $15.08 per share, with these shares also being held directly.
In other recent news, RxSight Inc. reported a significant 68% increase in Q2 2024 revenue, reaching $34.9 million, primarily driven by sales of their Light Adjustable Lens (LAL) units and Light Delivery Devices (LDDs). Encouraged by this growth, the company increased its full-year revenue guidance for 2024. Jefferies initiated coverage on RxSight, assigning a Buy rating and a price target of $72.00, highlighting the company's unique post-surgery adjustable intraocular lens (IOL) technology. The firm also forecasted potential market share growth to over 50% in the U.S. long term.
In addition, Stifel, BTIG, and Needham maintained their Buy ratings on RxSight, all expressing confidence in the company's growth trajectory. Stifel and Needham anticipate robust sales ranging between $37 million and $38 million. In more developments, RxSight achieved FDA approval for an extension of the spherical refractive power range for the LAL+, expected to enhance commercial distribution by the end of 2024. Despite the complexities of different European markets, the company is committed to expanding its international regulatory approvals. These are some of the recent developments surrounding RxSight Inc.
InvestingPro Insights
RxSight, Inc. (NASDAQ:RXST) has been demonstrating strong financial performance, as evidenced by recent InvestingPro data. The company's revenue growth is particularly noteworthy, with a 71.9% increase in the last twelve months as of Q2 2024, and a 67.65% quarterly growth in Q2 2024. This robust growth aligns with the company's high return over the last year, which InvestingPro Tips highlight as one of RxSight's strengths.
Despite the impressive revenue growth, InvestingPro Tips indicate that analysts do not anticipate the company to be profitable this year. This is reflected in the negative operating income of -$42.37 million and a negative EBITDA of -$38.31 million for the last twelve months as of Q2 2024. However, it's worth noting that RxSight holds more cash than debt on its balance sheet, suggesting a strong financial position to support its growth trajectory.
The recent stock transactions by Ilya Goldshleger, while part of a pre-established trading plan, occur against the backdrop of RxSight's stock performance. The company has shown a remarkable 112.04% price total return over the past year, and a 25.67% return over the last three months, as per InvestingPro data. These figures corroborate the InvestingPro Tip highlighting RxSight's strong return over the last three months.
For investors seeking a more comprehensive analysis, InvestingPro offers 9 additional tips for RxSight, providing deeper insights into the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.