Sight Sciences FY2024 EPS Estimate Lifted by William Blair

Sight Sciences, Inc. (NASDAQ:SGHT) – Stock analysts at William Blair upped their FY2024 earnings per share (EPS) estimates for Sight Sciences in a research report issued on Monday, November 11th. William Blair analyst M. Andrew now expects that the company will post earnings of ($1.10) per share for the year, up from their previous estimate of ($1.19). The consensus estimate for Sight Sciences’ current full-year earnings is ($1.01) per share. William Blair also issued estimates for Sight Sciences’ Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.29) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.29) EPS and FY2025 earnings at ($1.08) EPS.

Other equities research analysts have also issued reports about the stock. Piper Sandler reiterated a “neutral” rating and set a $5.50 price target (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Morgan Stanley reduced their target price on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Monday. Lake Street Capital downgraded Sight Sciences from a “buy” rating to a “hold” rating and decreased their target price for the company from $10.00 to $5.00 in a report on Monday, November 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Sight Sciences currently has an average rating of “Hold” and a consensus price target of $5.50.

Sight Sciences Stock Performance

NASDAQ SGHT opened at $3.86 on Wednesday. The company has a 50-day simple moving average of $5.75 and a two-hundred day simple moving average of $6.21. Sight Sciences has a 12-month low of $2.00 and a 12-month high of $8.45. The firm has a market cap of $195.93 million, a price-to-earnings ratio of -3.78 and a beta of 2.74. The company has a quick ratio of 10.50, a current ratio of 10.18 and a debt-to-equity ratio of 0.36.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The company had revenue of $20.16 million for the quarter, compared to analysts’ expectations of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%.

Insiders Place Their Bets

In other news, insider Matthew Link sold 21,831 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $5.61, for a total value of $122,471.91. Following the sale, the insider now directly owns 663,550 shares of the company’s stock, valued at $3,722,515.50. The trade was a 3.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeremy B. Hayden sold 4,878 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total value of $29,658.24. Following the transaction, the insider now owns 158,687 shares of the company’s stock, valued at $964,816.96. The trade was a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,357 shares of company stock worth $574,666. 28.90% of the stock is owned by corporate insiders.

Institutional Trading of Sight Sciences

Several institutional investors have recently bought and sold shares of SGHT. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Sight Sciences by 51.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock valued at $141,000 after buying an additional 9,106 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Sight Sciences in the 1st quarter worth $59,000. Vanguard Group Inc. increased its holdings in shares of Sight Sciences by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock worth $8,218,000 after purchasing an additional 81,768 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Sight Sciences by 25.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock valued at $1,991,000 after purchasing an additional 76,549 shares in the last quarter. Finally, Steele Capital Management Inc. purchased a new position in Sight Sciences in the 2nd quarter worth about $67,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

Sight Sciences Company Profile

Sight Sciences, Inc, an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. It operates through two segments, Surgical Glaucoma and Dry Eye. The company's products include OMNI Surgical System, an implant-free glaucoma surgery technology indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and SION Surgical Instrument, a manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork.