Bank of America Corp DE Acquires 413,737 Shares of RxSight, Inc. (NASDAQ:RXST)

Bank of America Corp DE lifted its stake in RxSight, Inc. (NASDAQ:RXST - Free Report) by 23.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,159,923 shares of the company's stock after purchasing an additional 413,737 shares during the quarter. Bank of America Corp DE owned 5.36% of RxSight worth $74,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Mountain Capital Investment Advisors Inc. raised its position in shares of RxSight by 3.8% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company's stock worth $302,000 after purchasing an additional 320 shares during the last quarter. Wells Fargo & Company MN lifted its stake in RxSight by 1.7% during the 4th quarter. Wells Fargo & Company MN now owns 26,574 shares of the company's stock valued at $914,000 after acquiring an additional 445 shares during the period. Legal & General Group Plc lifted its stake in RxSight by 1.2% during the 4th quarter. Legal & General Group Plc now owns 42,445 shares of the company's stock valued at $1,459,000 after acquiring an additional 512 shares during the period. F M Investments LLC lifted its stake in RxSight by 12.6% during the 4th quarter. F M Investments LLC now owns 5,901 shares of the company's stock valued at $203,000 after acquiring an additional 659 shares during the period. Finally, Coppell Advisory Solutions LLC lifted its stake in RxSight by 108.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock valued at $44,000 after acquiring an additional 672 shares during the period. Hedge funds and other institutional investors own 78.78% of the company's stock.

Insider Activity at RxSight

In related news, Director Tamara Fountain sold 7,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the transaction, the director now directly owns 24,793 shares in the company, valued at approximately $637,428.03. The trade was a 22.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.36% of the stock is currently owned by corporate insiders.

RxSight Stock Performance

Shares of NASDAQ RXST traded up $0.07 during midday trading on Thursday, hitting $13.31. 1,243,182 shares of the company's stock traded hands, compared to its average volume of 670,390. The firm has a fifty day moving average of $18.54 and a 200 day moving average of $30.76. The stock has a market capitalization of $540.88 million, a price-to-earnings ratio of -16.04 and a beta of 1.32. RxSight, Inc. has a 1 year low of $12.53 and a 1 year high of $64.50.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.03). The company had revenue of $37.90 million during the quarter, compared to the consensus estimate of $38.74 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The firm's revenue was up 28.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.25) EPS. On average, equities analysts anticipate that RxSight, Inc. will post -0.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RXST shares. Piper Sandler started coverage on shares of RxSight in a research note on Tuesday, April 15th. They set a "neutral" rating and a $18.00 target price on the stock. Bank of America restated an "underperform" rating and set a $22.00 target price (down previously from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. Needham & Company LLC restated a "buy" rating and set a $43.00 target price on shares of RxSight in a research note on Thursday, April 3rd. Wells Fargo & Company lowered their target price on shares of RxSight from $35.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. Finally, UBS Group lowered shares of RxSight from a "buy" rating to a "neutral" rating and reduced their price target for the company from $45.00 to $16.00 in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $37.60.

RxSight 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.