RxSight, Inc. (NASDAQ:RXST) recently saw significant stock transactions by its Co-President and Chief Operating Officer, Ilya Goldshleger. According to a recent SEC filing, Goldshleger sold a total of 6,200 shares of common stock over two separate transactions on October 25 and October 28, 2024. These shares were sold at a weighted average price that ranged between $49.7937 and $50.643, resulting in a total sale value of approximately $311,353.
Alongside the sales, Goldshleger also exercised stock options to acquire 6,200 shares at a price of $15.08 per share, totaling $93,496. These transactions were conducted under a pre-established Rule 10b5-1 trading plan, which allows insiders to sell stocks at predetermined times to avoid any potential accusations of insider trading.
Following these transactions, Goldshleger holds 42,246 shares directly. Additionally, 1,372 shares are held indirectly by a spouse.
In other recent news, RxSight Inc. reported a substantial 68% increase in Q2 2024 revenue, hitting $34.9 million, largely driven by successful sales of their Light Adjustable Lens (LAL) units and Light Delivery Devices (LDDs). This led the company to raise its full-year revenue guidance for 2024. Analyst firms Stifel, BTIG, and Needham maintained Buy ratings on RxSight's stock, reflecting confidence in the company's growth trajectory. Stifel anticipates RxSight's sales to reach between $37 million and $38 million in the third quarter, surpassing estimates.
RxSight has also received 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 complexities in different European markets, the company is committed to expanding its international regulatory approvals. These are recent developments surrounding RxSight Inc.
InvestingPro Insights
RxSight, Inc. (NASDAQ:RXST) has been demonstrating strong financial performance, which adds context to the recent insider transactions. According to InvestingPro data, the company's revenue growth has been impressive, with a 71.9% increase over the last twelve months as of Q2 2024, reaching $115.18 million. This robust growth trajectory aligns with the stock's remarkable performance, as evidenced by a 136.03% price total return over the past year.
Despite the strong revenue growth, it's important to note that RxSight is not yet profitable. An InvestingPro Tip indicates that analysts do not anticipate the company will be profitable this year. This insight may provide some rationale behind the insider's decision to sell shares, possibly to capitalize on the stock's recent gains.
Another relevant InvestingPro Tip highlights that RxSight holds more cash than debt on its balance sheet. This strong financial position, combined with the fact that liquid assets exceed short-term obligations, suggests that the company has a solid foundation for future growth and investment in its operations.
For investors seeking a more comprehensive analysis, InvestingPro offers 5 additional tips that could provide further insights into RxSight's financial health and market position. These additional tips, available through the InvestingPro product, could be valuable for understanding the full picture of the company's prospects in light of recent insider activities.
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