RxSight, Inc. (NASDAQ:RXST) Holdings Trimmed by Summit Global Investments

Summit Global Investments cut its holdings in RxSight, Inc. (NASDAQ:RXST) by 20.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,729 shares of the company’s stock after selling 1,708 shares during the quarter. Summit Global Investments’ holdings in RxSight were worth $231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quest Partners LLC grew its stake in shares of RxSight by 346.1% in the 3rd quarter. Quest Partners LLC now owns 3,069 shares of the company’s stock worth $152,000 after purchasing an additional 2,381 shares during the last quarter. Intech Investment Management LLC acquired a new position in RxSight in the third quarter worth approximately $598,000. Charles Schwab Investment Management Inc. grew its position in RxSight by 28.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 285,329 shares of the company’s stock worth $14,104,000 after buying an additional 62,507 shares during the last quarter. Algert Global LLC increased its holdings in shares of RxSight by 55.1% in the third quarter. Algert Global LLC now owns 64,148 shares of the company’s stock valued at $3,171,000 after buying an additional 22,792 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of RxSight by 55.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,536 shares of the company’s stock valued at $76,000 after acquiring an additional 550 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors.

RxSight Stock Down 0.9 %

RXST stock opened at $24.70 on Wednesday. The company has a 50 day moving average of $29.40 and a two-hundred day moving average of $39.55. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -29.76 and a beta of 1.22. RxSight, Inc. has a 12-month low of $24.09 and a 12-month high of $66.54.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The firm had revenue of $40.21 million for the quarter, compared to analyst estimates of $40.23 million. On average, research analysts anticipate that RxSight, Inc. will post -0.7 EPS for the current year.

Insider Buying and Selling

In other news, Director Shweta Maniar sold 3,519 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total transaction of $108,631.53. Following the transaction, the director now owns 7,383 shares in the company, valued at $227,913.21. This represents a 32.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jesse Anderson Corley purchased 1,443 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were acquired at an average price of $31.18 per share, for a total transaction of $44,992.74. Following the acquisition, the director now directly owns 1,443 shares in the company, valued at $44,992.74. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 9.36% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RXST has been the topic of a number of recent analyst reports. Bank of America cut their target price on RxSight from $60.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. UBS Group started coverage on RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 target price on shares of RxSight in a report on Wednesday, February 26th. Stifel Nicolaus cut their price target on shares of RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, March 19th. Finally, Wells Fargo & Company decreased their price objective on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, RxSight has an average rating of “Moderate Buy” and a consensus target price of $49.33.

RxSight Company Profile

RxSight, Inc, a commercial-stage 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.