RxSight, Inc. (NASDAQ:RXST) Shares Acquired by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership raised its stake in shares of RxSight, Inc. (NASDAQ:RXST) by 32.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,551,620 shares of the company’s stock after acquiring an additional 381,389 shares during the period. Artisan Partners Limited Partnership owned approximately 3.85% of RxSight worth $53,345,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP grew its position in RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in RxSight in the third quarter valued at about $34,000. Private Trust Co. NA purchased a new stake in RxSight in the 4th quarter valued at approximately $34,000. Arcadia Investment Management Corp MI purchased a new position in shares of RxSight during the 4th quarter worth approximately $46,000. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of RxSight in the 4th quarter valued at approximately $52,000. 78.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other RxSight news, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total value of $179,970.00. Following the completion of the sale, the director now directly owns 24,793 shares of the company’s stock, valued at approximately $637,428.03. The trade was a 22.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jesse Anderson Corley bought 1,443 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was acquired at an average price of $31.18 per share, with a total value of $44,992.74. Following the completion of the purchase, the director now directly owns 1,443 shares of the company’s stock, valued at approximately $44,992.74. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 9.36% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. 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 price objective on shares of RxSight in a research note on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price objective on shares of RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus dropped their target price on shares of RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, March 19th. Finally, Wells Fargo & Company decreased their price target on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

RxSight Price Performance

Shares of RXST opened at $26.67 on Friday. RxSight, Inc. has a 1-year low of $24.09 and a 1-year high of $66.54. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -32.13 and a beta of 1.22. The firm has a 50 day simple moving average of $29.18 and a 200-day simple moving average of $39.35.

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

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.