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RxSight, Inc. (RXST), an ophthalmic 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.
The company's RxSight system includes RxSight light delivery device, an office-based light treatment device that delivers UV light in a programmed pattern to modify the LAL based on the visual correction needed to achieve desired vision after cataract surgery. It primarily serves cataract doctors.
The company was formerly known as Calhoun Vision, Inc. and changed its name to RxSight, Inc. in February 2017. RxSight, Inc. was incorporated in 1997 and is headquartered in Aliso Viejo, California.
On Thursday November 9th, RxSight reported a loss of $0.35 per share on revenue of $22.20 million for the third quarter ended September 2023. The consensus estimate was a loss of $0.42 per share on revenue of $20.55 million. The company beat consensus estimates by 16.67% while revenue grew 75.97% on a year-over-year basis.
The company said it expects 2023 revenue of $85.0 million to $87.0 million. The company's previous guidance was revenue of $81.0 million to $86.0 million and the current consensus revenue estimate is $83.93 million for the year ending December 31, 2023.
As earnings estimates on the market have remained steady and share prices have increased above their 20-day moving average, share prices should head higher as earnings approach on Thursday February 8th.
Entry Point: $45.50
Trading Range: $12.06 - $47.19
Stop Loss: $43.25
Target Price: $50.00
