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ALISO VIEJO, CA—In a recent transaction reported to the Securities and Exchange Commission, Shweta Maniar, a director at RxSight, Inc. (NASDAQ:RXST), a $1.3 billion medical technology company with strong financial health according to InvestingPro analysis, sold 3,519 shares of the company's common stock. The shares were sold at a weighted average price of $30.87, amounting to a total transaction value of $108,618. This sale was executed as part of a pre-established Rule 10b5-1 trading plan set up by Maniar on August 22, 2024.
Following the transaction, Maniar retains ownership of 7,383 shares of RxSight. The sales were conducted within a price range of $30.52 to $31.26 per share.
In other recent news, RxSight Inc., a medical technology firm, has been the subject of various analyst adjustments. Stifel reduced their price target for the company from $40.00 to $35.00, maintaining a Hold rating due to concerns about competition and international expansion efforts. This followed RxSight's release of preliminary results for Q4 2024, which revealed a total revenue of $40.2 million, in line with consensus estimates.
The company's Light Delivery Device placements reached 83, with an estimated year-over-year utilization growth of just 9%. RxSight's initial revenue guidance for 2025 was set between $185 million and $197 million, slightly exceeding the anticipated $188 million by Stifel and other analysts.
Meanwhile, Needham & Company maintained a positive stance on RxSight, reiterating a Buy rating and projecting growth in its Light Adjustable Lens systems. However, both Stifel and Wells Fargo (NYSE:WFC) downgraded RxSight due to slowing adoption projections and limited growth potential respectively. These are the recent developments for RxSight, as reported by various analysts.
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