RxSight Executive Sells Over $328K in Company Stock

Ilya Goldshleger, Co-President and Chief Operating Officer of RxSight, Inc., has recently sold a substantial amount of company stock, as reported in the latest filings with the Securities and Exchange Commission. The transactions, which occurred on September 20 and 23, involved the sale of RxSight shares totaling more than $328,000.

On September 20, Goldshleger sold 3,100 shares at an average price of approximately $53.19 per share, amounting to around $164,889. The sales continued two days later, with an additional 3,100 shares sold across two separate transactions. The first consisted of 2,950 shares sold at a weighted average price of $52.62, while the remaining 150 shares were sold at $53.53 per share, totaling about $163,275.

In a related move, Goldshleger also acquired 6,200 shares through option exercises on the same dates, with each transaction priced at $15.08 per share, totaling $93,496. These practices—exercising options and selling shares—are typical among executives as part of their compensation and investment strategies.

Goldshleger’s transactions were executed under a pre-arranged 10b5-1 trading plan, which allows company insiders to sell a predetermined number of shares at specified times, thus mitigating potential allegations of insider trading.

Following these transactions, Goldshleger’s direct ownership stake in RxSight has changed, but he continues to hold a significant position within the company. Based in Aliso Viejo, California, RxSight specializes in ophthalmic products and remains a key player in the industry.

Investors and followers of RxSight are likely to monitor insider transactions as indicators of executive confidence regarding the company’s future performance.

In related news, RxSight recently reported a notable 68% increase in its second-quarter revenue for 2024, reaching $34.9 million. This growth was primarily driven by strong sales of its Light Adjustable Lens (LAL) units and Light Delivery Devices (LDDs). Additionally, the company raised its full-year revenue guidance for 2024, demonstrating optimism in its product lineup and market strategy.

Analysts from various firms have maintained a positive outlook on RxSight, reaffirming their buy ratings. They emphasized the company’s consistent growth narrative and potential for long-term expansion, particularly in terms of revenue growth and market penetration.

RxSight is also focused on gaining additional international regulatory approvals. The company recently secured FDA approval to extend the spherical refractive power range for its LAL+, which is anticipated to enhance commercial distribution by the end of 2024. These developments highlight RxSight’s commitment to growth and innovation within the adjustable and tunable IOL market.

As RxSight continues to make strides in the ophthalmic industry, the insider transactions conducted by Goldshleger have attracted attention to the company’s financial health and market performance. The company’s market capitalization stands at $2.05 billion, although its Price/Earnings (P/E) Ratio indicates that it is not yet profitable.

Despite the absence of current profitability, RxSight has posted significant revenue growth, with a 71.9% increase over the past twelve months. The company’s gross profit margin is a robust 66.26%, although it faces a negative operating income margin of -36.79%. Notably, RxSight’s balance sheet shows it possesses more cash than debt, which points to financial stability.

Investors should also consider the company’s stock performance, as RxSight has realized a 1-Year Price Total Return of 89.63%. However, it is important to note that the stock is trading at a high Price/Book multiple, suggesting that the market values the company’s assets with optimism.

For those seeking further insights into RxSight’s financial standing and market potential, additional analyses are available.