Sight Sciences FY2024 EPS Forecast Raised by William Blair

Sight Sciences, Inc. (NASDAQ:SGHT) – Analysts at William Blair upped their FY2024 earnings estimates for Sight Sciences in a research report issued on Monday, November 11th. William Blair analyst M. Andrew now anticipates that the company will post earnings of ($1.10) per share for the year, up from their prior 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.

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

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

Sight Sciences Stock Down 5.9 %

SGHT stock opened at $3.98 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 10.50. Sight Sciences has a 1-year low of $1.80 and a 1-year high of $8.45. The firm has a fifty day moving average price of $5.80 and a two-hundred day moving average price of $6.22. The firm has a market cap of $202.02 million, a price-to-earnings ratio of -3.90 and a beta of 2.74.

Hedge Funds Weigh In On Sight Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of SGHT. Vanguard Group Inc. boosted its stake in Sight Sciences by 5.5% during the first quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock worth $8,218,000 after buying an additional 81,768 shares in the last quarter. Long Focus Capital Management LLC boosted its stake in shares of Sight Sciences by 86.9% in the 2nd quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock valued at $3,739,000 after purchasing an additional 260,594 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Sight Sciences by 25.5% in the 1st 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. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Sight Sciences in the 2nd quarter valued at $1,234,000. Finally, Millrace Asset Group Inc. acquired a new stake in shares of Sight Sciences in the 3rd quarter valued at $874,000. Institutional investors own 55.51% of the company’s stock.

Insider Activity at Sight Sciences

In related news, CEO Paul Badawi sold 12,727 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total transaction of $76,234.73. Following the transaction, the chief executive officer now owns 5,725,433 shares of the company’s stock, valued at approximately $34,295,343.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Alison Bauerlein sold 10,130 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total transaction of $61,590.40. Following the transaction, the chief financial officer now owns 392,555 shares of the company’s stock, valued at approximately $2,386,734.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Paul Badawi sold 12,727 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total transaction of $76,234.73. Following the transaction, the chief executive officer now directly owns 5,725,433 shares in the company, valued at $34,295,343.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,357 shares of company stock valued at $574,666. 28.90% of the stock is currently owned by corporate insiders.

About Sight Sciences

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.